Mutual of America Capital Management LLC Has $4.03 Million Holdings in Range Resources Co. (NYSE:RRC)

Mutual of America Capital Management LLC lessened its position in shares of Range Resources Co. (NYSE:RRC) by 5.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 130,838 shares of the oil and gas exploration company’s stock after selling 8,078 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Range Resources were worth $4,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in 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 period. Vanguard Group Inc. increased its position in 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 period. Boston Partners increased its position in 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 period. Lingotto Investment Management LLP increased its position in Range Resources by 1.5% during the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after purchasing an additional 93,782 shares during the period. Finally, KGH Ltd increased its position in Range Resources by 3.2% during the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after purchasing an additional 190,000 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was purchased 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 in the company, valued at $186,274.66. This trade represents a 27.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group cut their price target on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Wednesday, September 18th. Susquehanna cut their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Piper Sandler cut their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Finally, Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.94.

Range Resources Price Performance

Shares of NYSE:RRC opened at $35.44 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $31.48 and its two-hundred day simple moving average is $32.61. 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 $8.55 billion, a PE ratio of 17.90 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period last year, the business earned $0.43 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Range Resources Co. will post 1.88 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.16%.

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.