Russell Investments Group Ltd. Sells 74,605 Shares of Range Resources Co. (NYSE:RRC)

Russell Investments Group Ltd. reduced its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,015 shares of the oil and gas exploration company's stock after selling 74,605 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Range Resources worth $13,881,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RRC. Invesco Ltd. raised its stake in Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company's stock valued at $123,049,000 after buying an additional 693,970 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Range Resources by 66.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company's stock worth $47,416,000 after purchasing an additional 585,000 shares during the last quarter. Canoe Financial LP boosted its holdings in Range Resources by 86.5% in the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company's stock worth $38,743,000 after purchasing an additional 554,400 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Range Resources by 56.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company's stock worth $28,964,000 after purchasing an additional 343,541 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its stake in Range Resources by 61.6% during the third quarter. Bank Pictet & Cie Europe AG now owns 838,600 shares of the oil and gas exploration company's stock valued at $27,179,000 after purchasing an additional 319,800 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on RRC. Susquehanna lifted their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Monday, April 22nd. Piper Sandler upped their target price on Range Resources from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank of Canada lowered Range Resources from an "outperform" rating to a "sector perform" rating and boosted their price objective for the company from $36.00 to $39.00 in a research report on Friday, April 26th. StockNews.com upgraded Range Resources to a "sell" rating in a research note on Wednesday, March 13th. Finally, Truist Financial lowered their price target on shares of Range Resources from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, April 5th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $36.62.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.57% of the company's stock.

Range Resources Price Performance

RRC stock traded up $0.72 on Friday, hitting $35.71. 1,379,739 shares of the company's stock traded hands, compared to its average volume of 2,400,913. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 18.13 and a beta of 1.85. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $38.25. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $34.23 and a 200-day moving average of $32.46.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company's revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. On average, analysts forecast that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.90%. Range Resources's payout ratio is presently 16.24%.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.