U S Global Investors Inc. Sells 3,000 Shares of Range Resources Co. (NYSE:RRC)

U S Global Investors Inc. decreased its holdings in Range Resources Co. (NYSE:RRC) by 30.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,000 shares of the oil and gas exploration company’s stock after selling 3,000 shares during the period. U S Global Investors Inc.’s holdings in Range Resources were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RRC. Allspring Global Investments Holdings LLC boosted its stake in shares of Range Resources by 191.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock valued at $485,000 after purchasing an additional 9,243 shares in the last quarter. State of Michigan Retirement System boosted its position in Range Resources by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 59,286 shares of the oil and gas exploration company’s stock valued at $2,041,000 after buying an additional 1,400 shares during the period. Tradewinds Capital Management LLC purchased a new stake in Range Resources during the 1st quarter valued at $138,000. Norden Group LLC boosted its position in Range Resources by 1,599.9% during the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock valued at $5,154,000 after buying an additional 140,891 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Range Resources by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 908,250 shares of the oil and gas exploration company’s stock valued at $31,271,000 after buying an additional 22,764 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

RRC traded up $0.24 during trading hours on Tuesday, hitting $30.19. The company’s stock had a trading volume of 100,680 shares, compared to its average volume of 2,333,040. The business’s 50-day moving average price is $30.20 and its 200-day moving average price is $33.16. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 15.20 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Sell-side analysts expect that Range Resources Co. will post 1.88 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho dropped their price target on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. The Goldman Sachs Group dropped their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price for the company in a research report on Tuesday, August 20th. Finally, Susquehanna dropped their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.06.

Insider Activity

In related news, VP Ashley Kavanaugh sold 12,700 shares of the 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 directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

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.