Vaughan Nelson Investment Management L.P. Sells 11,363 Shares of Range Resources Co. (NYSE:RRC)

Vaughan Nelson Investment Management L.P. trimmed its holdings in shares of Range Resources Co. (NYSE:RRC) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 940,138 shares of the oil and gas exploration company’s stock after selling 11,363 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.39% of Range Resources worth $32,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raleigh Capital Management Inc. bought a new stake in shares of Range Resources in the third quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 666 shares in the last quarter. Delos Wealth Advisors LLC bought a new stake in shares of Range Resources in the fourth quarter valued at about $52,000. Private Wealth Management Group LLC bought a new stake in shares of Range Resources in the fourth quarter valued at about $73,000. Finally, GAMMA Investing LLC bought a new stake in shares of Range Resources in the fourth quarter valued at about $81,000. 98.93% of the stock is currently owned by institutional investors.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred 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 directly owns 15,253 shares of the company’s stock, valued at $589,986.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The disclosure for this sale can be found here. Insiders have sold a total of 197,107 shares of company stock worth $7,379,095 over the last quarter. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Citigroup lifted their target price on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lowered Range Resources from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $36.00 to $39.00 in a research note on Friday, April 26th. Susquehanna lifted their target price on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Barclays assumed coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.10.

Range Resources Price Performance

Shares of NYSE RRC opened at $34.15 on Wednesday. The business’s 50 day moving average price is $35.99 and its 200 day moving average price is $33.24. The firm has a market cap of $8.29 billion, a P/E ratio of 17.34 and a beta of 1.88. Range Resources Co. has a 52 week low of $27.60 and a 52 week high of $39.33. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. Range Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, sell-side analysts expect that Range Resources Co. will post 2.12 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. Range Resources’s dividend payout ratio is currently 16.24%.

Range Resources 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.