Victory Capital Management Inc. Sells 20,309 Shares of Range Resources Co. (NYSE:RRC)

Victory Capital Management Inc. cut its position in shares of Range Resources Co. (NYSE:RRC) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,510 shares of the oil and gas exploration company’s stock after selling 20,309 shares during the quarter. Victory Capital Management Inc.’s holdings in Range Resources were worth $1,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RRC. Brooklyn Investment Group bought a new stake in shares of Range Resources during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its holdings in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares in the last quarter. UMB Bank n.a. boosted its holdings in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Range Resources in the fourth quarter worth $46,000. Finally, Versant Capital Management Inc boosted its holdings in Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RRC has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Barclays set a $43.00 target price on Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Truist Financial upped their price target on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.95.

Range Resources Stock Up 1.7 %

Range Resources stock opened at $39.62 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a fifty day moving average of $38.41 and a 200 day moving average of $34.58. The stock has a market cap of $9.56 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the prior year, the business posted $0.63 earnings per share. As a group, sell-side analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. Range Resources’s dividend payout ratio is 32.73%.

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.