Range Resources Co. (NYSE:RRC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Range Resources Co. (NYSE:RRC) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,597 shares of the oil and gas exploration company’s stock after selling 296 shares during the period. PNC Financial Services Group Inc.’s holdings in Range Resources were worth $561,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Range Resources in the 3rd quarter valued at approximately $25,000. Smartleaf Asset Management LLC increased its holdings in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. increased its holdings in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 426 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc increased its holdings in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Friday, January 3rd. Piper Sandler raised their price target on shares of Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Barclays set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Finally, Williams Trading set a $40.00 price target on shares of Range Resources in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.95.

Range Resources Price Performance

Shares of RRC opened at $40.48 on Thursday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The stock has a market cap of $9.77 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 5.11 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 has a fifty day moving average price of $38.47 and a 200 day moving average price of $34.62.

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

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. Range Resources’s payout ratio is 32.73%.

About Range Resources

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.