Moody National Bank Trust Division Sells 3,520 Shares of Range Resources Co. (NYSE:RRC)

Moody National Bank Trust Division lowered its position in Range Resources Co. (NYSE:RRC) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,481 shares of the oil and gas exploration company’s stock after selling 3,520 shares during the period. Moody National Bank Trust Division’s holdings in Range Resources were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Range Resources by 36.4% during the 4th quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company’s stock worth $158,000 after acquiring an additional 1,172 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after purchasing an additional 604,199 shares during the last quarter. Forthright Family Wealth Advisory LLC purchased a new position in Range Resources in the 3rd quarter worth about $445,000. Finally, Sanctuary Advisors LLC bought a new stake in Range Resources during the 3rd quarter valued at about $205,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RRC shares. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Friday, January 3rd. Truist Financial upped their target price on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday. Wells Fargo & Company lifted their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler dropped their target price on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a research report on Tuesday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.16.

Range Resources Stock Performance

Shares of Range Resources stock opened at $39.61 on Wednesday. The company has a 50 day moving average price of $34.96 and a 200 day moving average price of $32.38. The firm has a market capitalization of $9.56 billion, a P/E ratio of 20.01 and a beta of 1.81. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.76. 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 (NYSE:RRC) last posted its quarterly earnings results 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 the consensus estimate of $617.90 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Range Resources Co. will post 1.91 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Insider Activity

In other Range Resources 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 bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.57% of the company’s stock.

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.