Stifel Financial Corp Decreases Stock Position in Range Resources Co. (NYSE:RRC)

Stifel Financial Corp decreased its position in shares of Range Resources Co. (NYSE:RRC) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,985 shares of the oil and gas exploration company’s stock after selling 4,195 shares during the period. Stifel Financial Corp’s holdings in Range Resources were worth $2,214,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC purchased a new stake in shares of Range Resources during the third quarter worth about $11,508,000. Charles Schwab Investment Management Inc. increased its holdings in Range Resources by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after purchasing an additional 92,217 shares during the last quarter. Aptus Capital Advisors LLC raised its position in shares of 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 valued at $3,445,000 after purchasing an additional 64,443 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Range Resources by 59.9% during the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock valued at $4,045,000 after buying an additional 49,276 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Range Resources by 32.5% during the third quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock worth $2,025,000 after buying an additional 16,134 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RRC shares. Piper Sandler reduced their price objective on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada lifted their price target on Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. StockNews.com upgraded Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Mizuho lifted their target price on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Citigroup upped their price target on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average price target of $36.00.

Insider Activity

In other news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were purchased 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 owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $33.14 on Friday. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. 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 has a market capitalization of $8.00 billion, a price-to-earnings ratio of 16.74 and a beta of 1.85. The business has a 50 day simple moving average of $33.10 and a 200 day simple moving average of $32.35.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that Range Resources Co. will post 1.91 EPS for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, December 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Range Resources Company 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.