Lmcg Investments LLC Cuts Stock Holdings in Range Resources Co. (NYSE:RRC)

Lmcg Investments LLC lessened its holdings in Range Resources Co. (NYSE:RRC) by 2.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 149,365 shares of the oil and gas exploration company’s stock after selling 3,233 shares during the quarter. Lmcg Investments LLC’s holdings in Range Resources were worth $5,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KGH Ltd boosted its stake in shares of Range Resources by 3.2% in the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after buying an additional 190,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after purchasing an additional 35,344 shares in the last quarter. Canoe Financial LP boosted its holdings in Range Resources by 9.4% during the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after buying an additional 251,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Range Resources by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after buying an additional 92,217 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RRC has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler reduced their price target on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Stephens raised their price target on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.16.

Range Resources Stock Performance

NYSE:RRC opened at $41.09 on Tuesday. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.65. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 20.75 and a beta of 1.81. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $35.75 and its 200 day simple moving average is $32.62.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio is presently 16.16%.

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.