Thrivent Financial for Lutherans Trims Holdings in Range Resources Co. (NYSE:RRC)

Thrivent Financial for Lutherans reduced its stake in Range Resources Co. (NYSE:RRC) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,874 shares of the oil and gas exploration company’s stock after selling 1,749 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Range Resources were worth $1,749,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC increased its position in shares of Range Resources by 135.5% during the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after acquiring an additional 64,443 shares during the last quarter. TCW Group Inc. increased its holdings in 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 during the last quarter. Mariner Investment Group LLC purchased a new stake in Range Resources in the third quarter valued at approximately $1,077,000. Vaughan Nelson Investment Management L.P. lifted its stake in Range Resources by 26.2% during the second 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 purchasing an additional 246,172 shares in the last quarter. Finally, Canoe Financial LP lifted its stake in Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after purchasing an additional 1,422,200 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Range Resources Stock Up 0.4 %

Shares of NYSE RRC opened at $35.74 on Friday. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 18.05 and a beta of 1.80. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The firm has a 50-day moving average price of $32.08 and a 200 day moving average price of $32.57. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. The company 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%. Range Resources’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. Equities research analysts anticipate that Range Resources Co. will post 1.9 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio is presently 16.16%.

Analysts Set New Price Targets

Several equities analysts have weighed in on RRC shares. Royal Bank of Canada lifted their target price on Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Mizuho cut their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. UBS Group reduced their target price on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Wednesday, September 18th. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research note on Tuesday, August 20th. Finally, Piper Sandler reduced their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.00.

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.