Federated Hermes Inc. Sells 2,458 Shares of Range Resources Co. (NYSE:RRC)

Federated Hermes Inc. decreased its holdings in Range Resources Co. (NYSE:RRC) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,095 shares of the oil and gas exploration company’s stock after selling 2,458 shares during the quarter. Federated Hermes Inc.’s holdings in Range Resources were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RRC. Congress Wealth Management LLC DE lifted its position in shares of Range Resources by 2.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 47,903 shares of the oil and gas exploration company’s stock worth $1,458,000 after purchasing an additional 1,184 shares in the last quarter. Contrarius Investment Management Ltd bought a new position in Range Resources in the 4th quarter valued at $3,063,000. United Services Automobile Association increased its stake in shares of Range Resources by 14.4% in the 4th quarter. United Services Automobile Association now owns 19,525 shares of the oil and gas exploration company’s stock valued at $594,000 after buying an additional 2,452 shares during the period. TD Asset Management Inc raised its position in shares of Range Resources by 177.7% during the fourth quarter. TD Asset Management Inc now owns 692,722 shares of the oil and gas exploration company’s stock worth $21,086,000 after acquiring an additional 443,298 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Range Resources by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 114,137 shares of the oil and gas exploration company’s stock valued at $3,474,000 after acquiring an additional 4,297 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 0.3 %

NYSE RRC opened at $30.61 on Monday. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50 day moving average price is $30.40 and its two-hundred day moving average price is $33.50. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping 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 business had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Range Resources Co. will post 2.07 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have weighed in on RRC. Mizuho dropped their price objective on Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company dropped their target price on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Morgan Stanley reduced their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Range Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average target price of $36.10.

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.