Range Resources Co. (NYSE:RRC) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Range Resources Co. (NYSE:RRCGet Rating) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,683,439 shares of the oil and gas exploration company’s stock after selling 107,991 shares during the period. Principal Financial Group Inc. owned about 0.65% of Range Resources worth $30,016,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC increased its stake in Range Resources by 4.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,208,601 shares of the oil and gas exploration company’s stock valued at $185,761,000 after purchasing an additional 313,811 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Range Resources by 0.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,968,245 shares of the oil and gas exploration company’s stock valued at $70,754,000 after purchasing an additional 33,119 shares during the last quarter. Fisher Asset Management LLC increased its stake in Range Resources by 6.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,651,836 shares of the oil and gas exploration company’s stock valued at $47,282,000 after purchasing an additional 149,040 shares during the last quarter. Bank of America Corp DE increased its stake in Range Resources by 8.7% during the fourth quarter. Bank of America Corp DE now owns 1,972,018 shares of the oil and gas exploration company’s stock valued at $35,162,000 after purchasing an additional 157,085 shares during the last quarter. Finally, Morgan Stanley increased its stake in Range Resources by 87.4% during the second quarter. Morgan Stanley now owns 1,754,998 shares of the oil and gas exploration company’s stock valued at $29,414,000 after purchasing an additional 818,687 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

In other Range Resources news, SVP Dori Ginn sold 10,000 shares of the company’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $32.60, for a total value of $326,000.00. Following the completion of the sale, the senior vice president now directly owns 75,098 shares of the company’s stock, valued at approximately $2,448,194.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

RRC stock opened at $27.08 on Friday. The company has a market capitalization of $7.31 billion, a P/E ratio of -56.42, a PEG ratio of 0.21 and a beta of 1.99. The company has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $23.79. Range Resources Co. has a fifty-two week low of $11.77 and a fifty-two week high of $34.61. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.14.

Range Resources (NYSE:RRCGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The oil and gas exploration company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. The business had revenue of $986.66 million during the quarter, compared to the consensus estimate of $955.47 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities analysts anticipate that Range Resources Co. will post 4.54 EPS for the current year.

Range Resources announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 22nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas exploration company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Several analysts have weighed in on RRC shares. Susquehanna Bancshares boosted their target price on shares of Range Resources from $24.00 to $34.00 in a research note on Monday, April 25th. Wells Fargo & Company upped their price target on shares of Range Resources from $34.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, March 14th. Susquehanna upped their price target on shares of Range Resources from $24.00 to $34.00 in a research report on Monday, April 25th. Truist Financial upped their price target on shares of Range Resources from $33.00 to $37.00 in a research report on Thursday, April 21st. Finally, Piper Sandler upgraded shares of Range Resources from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $49.00 in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.21.

Range Resources Company Profile (Get Rating)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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