KBC Group NV Has $278,000 Stake in Range Resources Corporation $RRC

KBC Group NV reduced its holdings in shares of Range Resources Corporation (NYSE:RRC) by 38.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,847 shares of the oil and gas exploration company’s stock after selling 4,343 shares during the period. KBC Group NV’s holdings in Range Resources were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in Range Resources during the first quarter worth approximately $453,000. CWM LLC grew its position in shares of Range Resources by 795.6% during the 1st quarter. CWM LLC now owns 12,780 shares of the oil and gas exploration company’s stock worth $510,000 after buying an additional 11,353 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Range Resources in the 1st quarter valued at $291,000. Kestra Private Wealth Services LLC lifted its position in shares of Range Resources by 5.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company’s stock valued at $266,000 after acquiring an additional 360 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Range Resources during the first quarter worth $385,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Up 2.3%

Shares of RRC stock opened at $39.03 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The firm has a market cap of $9.25 billion, a P/E ratio of 16.40, a PEG ratio of 0.39 and a beta of 0.50. The company has a 50 day moving average of $36.97 and a 200-day moving average of $37.26. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $43.50.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $655.30 million during the quarter, compared to analyst estimates of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.Range Resources’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. Sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, September 12th. Range Resources’s payout ratio is currently 15.13%.

Analysts Set New Price Targets

RRC has been the subject of several research analyst reports. Wells Fargo & Company raised shares of Range Resources to a “strong-buy” rating in a research note on Thursday, October 16th. Susquehanna decreased their target price on Range Resources to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Piper Sandler dropped their price target on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on Range Resources from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, Morgan Stanley decreased their price objective on Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.85.

Range Resources 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.