Range Resources Corporation $RRC Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lowered its stake in shares of Range Resources Corporation (NYSE:RRC) by 32.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 331,300 shares of the oil and gas exploration company’s stock after selling 158,450 shares during the quarter. Ceredex Value Advisors LLC owned about 0.14% of Range Resources worth $13,229,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RRC. Hollencrest Capital Management acquired a new stake in shares of Range Resources in the first quarter worth approximately $33,000. Bessemer Group Inc. raised its stake in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 315 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Range Resources in the 1st quarter valued at $39,000. Fifth Third Bancorp grew its stake in shares of Range Resources by 20.6% during the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after buying an additional 355 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Range Resources by 124.9% during the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company’s stock worth $103,000 after buying an additional 1,434 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Roth Capital lowered Range Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. Bank of America raised their price objective on Range Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Susquehanna lifted their price objective on Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. UBS Group dropped their target price on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, August 20th. Finally, Mizuho raised their price target on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.75.

Range Resources Price Performance

RRC stock opened at $33.98 on Wednesday. The firm has a market cap of $8.09 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.28 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a 1 year low of $27.55 and a 1 year high of $43.50. The stock has a 50-day simple moving average of $37.02 and a 200-day simple moving average of $37.37.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The firm had revenue of $856.28 million during the quarter, compared to analysts’ expectations of $708.38 million. During the same quarter in the prior year, the business earned $0.46 EPS. On average, equities analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. Range Resources’s dividend payout ratio is 18.09%.

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.