Range Resources Corporation $RRC Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of Range Resources Corporation (NYSE:RRC) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,121 shares of the oil and gas exploration company’s stock after selling 13,643 shares during the period. Envestnet Asset Management Inc.’s holdings in Range Resources were worth $3,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RRC. GAMMA Investing LLC lifted its position in Range Resources by 4.7% during the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after buying an additional 270 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Range Resources by 0.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock worth $2,981,000 after acquiring an additional 299 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Range Resources by 0.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock worth $2,636,000 after acquiring an additional 328 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Range Resources by 4.8% during the 1st quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company’s stock valued at $308,000 after acquiring an additional 351 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Range Resources by 5.7% in the first 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 purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

RRC has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Roth Capital lowered shares of Range Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Range Resources in a report on Thursday. Piper Sandler cut their target price on Range Resources from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Finally, Mizuho lifted their target price on Range Resources from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.95.

Range Resources Trading Up 0.6%

RRC opened at $38.25 on Friday. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. 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 business has a fifty day simple moving average of $36.80 and a 200-day simple moving average of $37.17. The firm has a market cap of $9.06 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.39 and a beta of 0.49.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The firm had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. During the same quarter in the prior year, the company earned $0.48 EPS. Range Resources’s revenue was up 21.7% on a year-over-year basis. On average, equities analysts expect that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is presently 15.13%.

About Range Resources

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.