Range Resources Co. (NYSE:RRC) Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,443 shares of the oil and gas exploration company’s stock after selling 5,859 shares during the period. Empowered Funds LLC’s holdings in Range Resources were worth $2,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RRC. Price T Rowe Associates Inc. MD grew its holdings in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after acquiring an additional 5,759,883 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Range Resources in the 2nd quarter worth approximately $78,223,000. Canoe Financial LP grew its holdings in shares of Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after acquiring an additional 1,422,200 shares during the period. Vanguard Group Inc. grew its holdings in shares of Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares during the period. Finally, Sagefield Capital LP grew its holdings in shares of Range Resources by 44.8% in the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock worth $30,408,000 after acquiring an additional 280,452 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 0.3 %

Shares of RRC opened at $34.34 on Wednesday. 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 has a market capitalization of $8.29 billion, a P/E ratio of 17.34 and a beta of 1.80. The stock’s fifty day simple moving average is $31.23 and its 200 day simple moving average is $32.57. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

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. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. On average, equities research analysts forecast that Range Resources Co. will post 1.89 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.93%. Range Resources’s dividend payout ratio is currently 16.16%.

Analyst Ratings Changes

A number of research firms recently weighed in on RRC. Benchmark restated a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. Piper Sandler lowered their target price on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Finally, Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $34.94.

Insider Activity at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% 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.