Oppenheimer & Co. Inc. Sells 83,078 Shares of Range Resources Corporation $RRC

Oppenheimer & Co. Inc. lowered its holdings in shares of Range Resources Corporation (NYSE:RRC) by 92.1% during the 4th quarter, HoldingsChannel reports. The fund owned 7,101 shares of the oil and gas exploration company’s stock after selling 83,078 shares during the period. Oppenheimer & Co. Inc.’s holdings in Range Resources were worth $250,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Range Resources by 3.3% during the third quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock worth $935,425,000 after acquiring an additional 799,574 shares in the last quarter. Citigroup Inc. boosted its stake in Range Resources by 71.0% during the third quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock worth $11,578,000 after acquiring an additional 127,753 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Range Resources by 48.3% during the third quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock worth $5,086,000 after acquiring an additional 44,004 shares in the last quarter. American Century Companies Inc. boosted its stake in Range Resources by 7.1% during the third quarter. American Century Companies Inc. now owns 754,293 shares of the oil and gas exploration company’s stock worth $28,392,000 after acquiring an additional 49,979 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in Range Resources during the third quarter worth about $1,581,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RRC shares. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Royal Bank Of Canada dropped their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. Citigroup dropped their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Barclays upped their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Finally, Truist Financial dropped their target price on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $43.41.

Insiders Place Their Bets

In related news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the transaction, the director owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Range Resources Stock Down 0.0%

Shares of Range Resources stock opened at $40.51 on Monday. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.73 and a beta of 0.46. The company’s 50 day moving average is $42.91 and its 200 day moving average is $38.84. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Research analysts anticipate that Range Resources Corporation will post 3.69 EPS for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. Range Resources’s payout ratio is currently 10.58%.

About Range Resources

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.