Laird Norton Wetherby Wealth Management LLC Sells 530 Shares of Range Resources Co. (NYSE:RRC)

Laird Norton Wetherby Wealth Management LLC lowered its position in Range Resources Co. (NYSE:RRC) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,256 shares of the oil and gas exploration company’s stock after selling 530 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Range Resources were worth $765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its stake in Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after acquiring an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Range Resources in the fourth quarter valued at approximately $33,684,000. Amundi lifted its position in Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after purchasing an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after purchasing an additional 624,955 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after buying an additional 605,315 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Down 0.8%

NYSE:RRC opened at $40.28 on Thursday. The company has a 50-day moving average price of $36.43 and a 200-day moving average price of $36.25. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 5.11 and a beta of 0.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period last year, the business posted $0.63 earnings per share. Equities analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. Range Resources’s payout ratio is currently 32.14%.

Analysts Set New Price Targets

RRC has been the topic of several research reports. The Goldman Sachs Group raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price target on Range Resources from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Roth Mkm raised Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $42.00 in a research note on Tuesday, April 8th. Williams Trading set a $40.00 price objective on Range Resources in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price objective on shares of Range Resources in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.85.

Insider Buying and Selling

In related news, Director James M. Funk sold 13,582 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the sale, the director now owns 54,394 shares of the company’s stock, valued at $1,905,421.82. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $39.00, for a total transaction of $502,320.00. Following the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at $67,197. This represents a 88.20% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.