Tidal Investments LLC Sells 4,071 Shares of Range Resources Co. (NYSE:RRC)

Tidal Investments LLC lowered its stake in Range Resources Co. (NYSE:RRC) by 20.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,766 shares of the oil and gas exploration company’s stock after selling 4,071 shares during the period. Tidal Investments LLC’s holdings in Range Resources were worth $485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its holdings in Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares during the period. M&T Bank Corp increased its stake in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after acquiring an additional 327 shares during the last quarter. CIBC Asset Management Inc raised its position in Range Resources by 5.4% during the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after purchasing an additional 350 shares in the last quarter. Commerce Bank lifted its stake in Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares during the last quarter. Finally, Inscription Capital LLC boosted its holdings in shares of Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $33.18 on Monday. The company has a market capitalization of $8.01 billion, a PE ratio of 16.76 and a beta of 1.85. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The firm has a fifty day simple moving average of $33.14 and a 200 day simple moving average of $32.30.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. On average, sell-side analysts forecast that Range Resources Co. will post 1.91 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.96%. Range Resources’s dividend payout ratio is currently 16.16%.

Insider Activity at Range Resources

In other news, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler lowered their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, November 18th. UBS Group raised shares of Range Resources from a “sell” rating to a “neutral” rating and increased their target price for the stock from $28.00 to $35.00 in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Citigroup upped their price objective on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.