Range Resources Co. (NYSE:RRC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 23.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,745 shares of the oil and gas exploration company’s stock after selling 8,619 shares during the quarter. Federated Hermes Inc.’s holdings in Range Resources were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RRC. Raleigh Capital Management Inc. acquired a new position in shares of Range Resources during the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources during the 3rd quarter valued at $27,000. Larson Financial Group LLC lifted its holdings in shares of Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after acquiring an additional 900 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 490 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Range Resources during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Stephens lifted their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Citigroup lifted their price target on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Truist Financial dropped their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Finally, Mizuho reaffirmed a “buy” rating and set a $41.00 price target (up previously from $39.00) on shares of Range Resources in a research note on Friday, April 26th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $36.75.

Range Resources Stock Down 3.8 %

Shares of Range Resources stock opened at $34.55 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $34.04 and its 200-day simple moving average is $32.42. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 17.54 and a beta of 1.83. Range Resources Co. has a twelve month low of $23.92 and a twelve month high of $38.25.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Equities research analysts forecast that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is 16.24%.

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.