Mutual of America Capital Management LLC Trims Stock Position in Range Resources Co. (NYSE:RRC)

Mutual of America Capital Management LLC decreased its holdings in Range Resources Co. (NYSE:RRC) by 3.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 138,916 shares of the oil and gas exploration company’s stock after selling 4,861 shares during the period. Mutual of America Capital Management LLC’s holdings in Range Resources were worth $4,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Congress Wealth Management LLC DE grew its holdings in Range Resources by 2.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 47,903 shares of the oil and gas exploration company’s stock valued at $1,458,000 after purchasing an additional 1,184 shares during the period. Contrarius Investment Management Ltd purchased a new position in shares of Range Resources in the 4th quarter worth $3,063,000. United Services Automobile Association boosted its holdings in Range Resources by 14.4% in the fourth quarter. United Services Automobile Association now owns 19,525 shares of the oil and gas exploration company’s stock valued at $594,000 after acquiring an additional 2,452 shares during the last quarter. TD Asset Management Inc grew its position in 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 valued at $21,086,000 after acquiring an additional 443,298 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in 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.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RRC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Mizuho dropped their price objective on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Susquehanna cut their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group cut their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.10.

Range Resources Stock Performance

RRC stock opened at $30.61 on Friday. The stock’s fifty day moving average is $30.40 and its two-hundred day moving average is $33.49. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Range Resources’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts predict that Range Resources Co. will post 2.07 EPS for the current year.

Range Resources Announces Dividend

The firm 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 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

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.