Corebridge Financial Inc. Sells 13,224 Shares of Range Resources Co. (NYSE:RRC)

Corebridge Financial Inc. lessened its position in shares of Range Resources Co. (NYSE:RRC) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 273,019 shares of the oil and gas exploration company’s stock after selling 13,224 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Range Resources worth $9,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Congress Wealth Management LLC DE lifted its stake in Range Resources by 7.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 79,037 shares of the oil and gas exploration company’s stock worth $2,844,000 after purchasing an additional 5,160 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Range Resources by 23.2% during the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock worth $4,095,000 after buying an additional 21,440 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Range Resources during the 4th quarter worth $1,795,000. American Century Companies Inc. boosted its stake in Range Resources by 7.9% in the fourth quarter. American Century Companies Inc. now owns 361,966 shares of the oil and gas exploration company’s stock valued at $13,024,000 after buying an additional 26,526 shares in the last quarter. Finally, Xponance Inc. grew its position in Range Resources by 4.6% in the fourth quarter. Xponance Inc. now owns 27,186 shares of the oil and gas exploration company’s stock valued at $978,000 after acquiring an additional 1,202 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Down 0.7 %

RRC opened at $39.84 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $38.60 and its 200 day simple moving average is $35.02. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The stock has a market cap of $9.62 billion, a PE ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80.

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 for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the business posted $0.63 EPS. As a group, research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.90%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RRC shares. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a research note on Friday, January 17th. Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised shares of Range Resources from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. Morgan Stanley upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $40.00 to $49.00 in a report on Wednesday. Finally, Citigroup downgraded Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $40.89.

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.