Range Resources Co. (NYSE:RRC) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC trimmed its holdings in shares of Range Resources Co. (NYSE:RRCFree Report) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 897,245 shares of the oil and gas exploration company’s stock after selling 139,140 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Range Resources were worth $27,312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliance Wealth Advisors LLC UT lifted its holdings in Range Resources by 4.3% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after acquiring an additional 431 shares during the last quarter. Lmcg Investments LLC grew its position in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after buying an additional 546 shares during the last quarter. Xponance Inc. grew its position in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock worth $888,000 after buying an additional 579 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in shares of Range Resources by 9.4% in the fourth quarter. Octavia Wealth Advisors LLC now owns 6,857 shares of the oil and gas exploration company’s stock valued at $209,000 after buying an additional 590 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 666 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRC. Stifel Nicolaus boosted their target price on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Wednesday, April 24th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Piper Sandler raised their price objective on shares of Range Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Susquehanna boosted their target price on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.10.

Get Our Latest Research Report on RRC

Insider Buying and Selling at Range Resources

In other news, CEO Dennis Degner sold 101,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $37.78, for a total value of $3,815,780.00. Following the completion of the sale, the chief executive officer now directly owns 198,154 shares of the company’s stock, valued at approximately $7,486,258.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Range Resources news, CEO Dennis Degner sold 101,000 shares of Range Resources stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $37.78, for a total value of $3,815,780.00. Following the transaction, the chief executive officer now owns 198,154 shares of the company’s stock, valued at $7,486,258.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reginal Spiller sold 1,460 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the sale, the director now owns 15,253 shares in the company, valued at $589,986.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,107 shares of company stock valued at $7,379,095. 2.50% of the stock is currently owned by insiders.

Range Resources Price Performance

Shares of NYSE RRC traded up $0.04 during midday trading on Tuesday, reaching $37.49. 384,723 shares of the company traded hands, compared to its average volume of 2,491,028. The stock’s 50-day simple moving average is $36.22 and its 200-day simple moving average is $32.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. Range Resources Co. has a 12 month low of $25.89 and a 12 month high of $39.33. The firm has a market cap of $9.10 billion, a PE ratio of 19.01 and a beta of 1.81.

Range Resources (NYSE:RRCGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. The firm had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. As a group, equities analysts anticipate that Range Resources Co. will post 1.99 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 0.85%. Range Resources’s dividend payout ratio is currently 16.24%.

Range Resources Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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