AQR Capital Management LLC Trims Stock Holdings in Range Resources Co. (NYSE:RRC)

AQR Capital Management LLC trimmed its holdings in Range Resources Co. (NYSE:RRC) by 28.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,025 shares of the oil and gas exploration company’s stock after selling 8,564 shares during the period. AQR Capital Management LLC’s holdings in Range Resources were worth $737,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Integrated Advisors Network LLC bought a new stake in Range Resources in the fourth quarter worth $265,000. Congress Asset Management Co. MA lifted its stake in shares of Range Resources by 7.6% in the fourth quarter. Congress Asset Management Co. MA now owns 390,765 shares of the oil and gas exploration company’s stock worth $11,895,000 after buying an additional 27,579 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Range Resources in the fourth quarter worth approximately $682,000. Kapitalo Investimentos Ltda lifted its position in Range Resources by 108.0% during the fourth quarter. Kapitalo Investimentos Ltda now owns 7,052 shares of the oil and gas exploration company’s stock valued at $215,000 after purchasing an additional 3,661 shares during the period. Finally, One Plus One Wealth Management LLC bought a new position in Range Resources during the first quarter valued at approximately $210,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Up 0.8 %

NYSE RRC opened at $31.42 on Monday. The company’s 50-day simple moving average is $30.10 and its two-hundred day simple moving average is $33.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.95 and a beta of 1.80.

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

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

RRC has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. UBS Group dropped their price objective on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $39.00 in a report on Tuesday, October 1st. Finally, Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.41.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.57% of the company’s stock.

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.