Victory Capital Management Inc. Grows Stake in Range Resources Co. (NYSE:RRC)

Victory Capital Management Inc. increased its stake in shares of Range Resources Co. (NYSE:RRC) by 32.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,819 shares of the oil and gas exploration company’s stock after purchasing an additional 16,134 shares during the period. Victory Capital Management Inc.’s holdings in Range Resources were worth $2,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its holdings in Range Resources by 135.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock worth $3,445,000 after acquiring an additional 64,443 shares in the last quarter. TCW Group Inc. raised its holdings in shares of Range Resources by 186.5% in the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock valued at $1,671,000 after purchasing an additional 32,433 shares in the last quarter. Mariner Investment Group LLC purchased a new position in shares of Range Resources in the 3rd quarter valued at $1,077,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Range Resources by 26.2% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company’s stock worth $39,777,000 after buying an additional 246,172 shares during the last quarter. Finally, Boston Partners increased its position in shares of Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after purchasing an additional 133,565 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Activity at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction dated Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction 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 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RRC shares. Wells Fargo & Company cut their target price on Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a research note on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a report on Thursday, September 12th. Piper Sandler cut their target price on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Finally, UBS Group reduced their price target on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.94.

Range Resources Stock Up 0.4 %

Shares of NYSE:RRC opened at $35.72 on Monday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The firm has a market capitalization of $8.62 billion, a PE ratio of 18.04 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50-day moving average is $31.61 and its two-hundred day moving average is $32.53.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. Analysts predict that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is 16.16%.

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.