Dimensional Fund Advisors LP Sells 656,400 Shares of Range Resources Co. (NYSE:RRC)

Dimensional Fund Advisors LP decreased its stake in Range Resources Co. (NYSE:RRC) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,957,788 shares of the oil and gas exploration company’s stock after selling 656,400 shares during the period. Dimensional Fund Advisors LP owned about 2.46% of Range Resources worth $199,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Range Resources by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares during the last quarter. Boston Partners grew its holdings in shares of Range Resources by 2.1% during the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after purchasing an additional 133,565 shares during the last quarter. Kopernik Global Investors LLC grew its holdings in shares of Range Resources by 2.7% during the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock valued at $94,562,000 after purchasing an additional 82,095 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Range Resources during the 2nd quarter valued at $78,223,000. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RRC shares. 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. Piper Sandler lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $43.00 to $31.00 in a report on Thursday, August 15th. The Goldman Sachs Group dropped their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Susquehanna dropped their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Wolfe Research assumed coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.10.

Range Resources Trading Up 1.7 %

Shares of NYSE RRC opened at $30.51 on Friday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The stock has a market cap of $7.40 billion, a P/E ratio of 15.49 and a beta of 1.80. The firm has a 50-day moving average of $30.56 and a 200 day moving average of $33.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same period last year, the company posted $0.27 EPS. Range Resources’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Range Resources Co. will post 2.07 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

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.