Intech Investment Management LLC Sells 175,122 Shares of Range Resources Corporation $RRC

Intech Investment Management LLC reduced its position in shares of Range Resources Corporation (NYSE:RRC) by 84.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,716 shares of the oil and gas exploration company’s stock after selling 175,122 shares during the quarter. Intech Investment Management LLC’s holdings in Range Resources were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 336 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Range Resources in the fourth quarter valued at about $71,000. Clearstead Advisors LLC raised its position in shares of Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after purchasing an additional 1,714 shares during the period. Hantz Financial Services Inc. raised its position in shares of Range Resources by 206.4% in the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock valued at $87,000 after purchasing an additional 1,550 shares during the period. Finally, Toth Financial Advisory Corp raised its position in shares of Range Resources by 59.5% in the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company’s stock valued at $94,000 after purchasing an additional 1,000 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Down 3.5%

Shares of Range Resources stock opened at $39.06 on Friday. The firm has a 50-day moving average of $42.08 and a 200-day moving average of $39.36. The stock has a market cap of $9.20 billion, a PE ratio of 10.33 and a beta of 0.42. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. Range Resources’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 earnings per share. As a group, sell-side analysts forecast that Range Resources Corporation will post 3.7 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 12th. Range Resources’s payout ratio is presently 10.58%.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RRC shares. Stephens dropped their price objective on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Zacks Research raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Citigroup dropped their price objective on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company increased their price objective on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $44.00.

Range Resources Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.