American International Group Inc. Sells 14,091 Shares of Range Resources Co. (NYSE:RRC)

American International Group Inc. lowered its stake in Range Resources Co. (NYSE:RRC) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 325,888 shares of the oil and gas exploration company’s stock after selling 14,091 shares during the quarter. American International Group Inc. owned approximately 0.13% of Range Resources worth $9,920,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Integrated Advisors Network LLC bought a new stake in shares of Range Resources during the 4th quarter valued at about $265,000. DRW Securities LLC boosted its position in shares of Range Resources by 150.0% during the 4th quarter. DRW Securities LLC now owns 50,000 shares of the oil and gas exploration company’s stock valued at $1,522,000 after acquiring an additional 30,000 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its position in shares of Range Resources by 3.4% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 1,221,057 shares of the oil and gas exploration company’s stock valued at $37,169,000 after acquiring an additional 39,995 shares during the last quarter. RMB Capital Management LLC boosted its position in shares of Range Resources by 14.4% during the 4th quarter. RMB Capital Management LLC now owns 364,836 shares of the oil and gas exploration company’s stock valued at $11,106,000 after acquiring an additional 45,816 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new stake in shares of Range Resources during the 4th quarter valued at about $673,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRC. Truist Financial dropped their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Mizuho lifted their price target on Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Stifel Nicolaus raised their price objective on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Piper Sandler raised their price objective on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada cut Range Resources from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $36.00 to $39.00 in a report on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.10.

Range Resources Trading Down 0.1 %

Range Resources stock opened at $34.26 on Wednesday. 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 fifty day simple moving average is $36.37 and its two-hundred day simple moving average is $32.96. Range Resources Co. has a 12 month low of $27.52 and a 12 month high of $39.33. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.39 and a beta of 1.81.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts predict that Range Resources Co. will post 2.11 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 14th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now owns 15,253 shares in the company, valued at $589,986.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Charles G. Griffie acquired 1,500 shares of Range Resources stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at $160,983.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reginal Spiller sold 1,460 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the sale, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The disclosure for this sale can be found here. Insiders sold 197,107 shares of company stock worth $7,379,095 over the last quarter. 2.50% of the stock is currently owned by insiders.

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.