Range Resources Co. (NYSE:RRC) Shares Sold by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda cut its holdings in Range Resources Co. (NYSE:RRC) by 84.4% during the fourth quarter, HoldingsChannel reports. The firm owned 31,001 shares of the oil and gas exploration company’s stock after selling 167,635 shares during the period. Wealth High Governance Capital Ltda’s holdings in Range Resources were worth $1,115,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RRC. Brooklyn Investment Group acquired a new position in shares of Range Resources during the third quarter worth about $25,000. Smartleaf Asset Management LLC increased its stake in shares of Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. increased its stake in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc increased its stake in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Performance

Shares of RRC opened at $37.50 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 5.11 and a beta of 1.80. The company’s 50 day simple moving average is $38.20 and its 200 day simple moving average is $34.28. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95.

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

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.96%. Range Resources’s dividend payout ratio is 32.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RRC. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Barclays set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Truist Financial upped their target price on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, January 3rd. Finally, UBS Group upped their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average target price of $39.11.

Range Resources Company Profile

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.