Hardin Capital Partners LLC Sells 3,500 Shares of Range Resources Corporation $RRC

Hardin Capital Partners LLC reduced its stake in shares of Range Resources Corporation (NYSE:RRC) by 37.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,850 shares of the oil and gas exploration company’s stock after selling 3,500 shares during the quarter. Hardin Capital Partners LLC’s holdings in Range Resources were worth $228,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in Range Resources by 98.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company’s stock worth $720,000 after acquiring an additional 8,941 shares during the last quarter. Informed Momentum Co LLC bought a new stake in Range Resources during the first quarter worth approximately $3,575,000. Advisor Resource Council bought a new stake in Range Resources during the first quarter worth approximately $622,000. D.A. Davidson & CO. bought a new position in shares of Range Resources during the first quarter valued at approximately $612,000. Finally, Goehring & Rozencwajg Associates LLC grew its stake in shares of Range Resources by 1.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company’s stock valued at $57,803,000 after buying an additional 25,403 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RRC has been the topic of a number of analyst reports. Bank of America upped their target price on Range Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Roth Capital cut Range Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from $44.00 to $35.00 in a research note on Monday, August 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of Range Resources in a research note on Tuesday, July 15th. Scotiabank set a $46.00 target price on Range Resources and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Mizuho cut their target price on Range Resources from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $42.45.

Range Resources Stock Performance

Shares of RRC opened at $35.88 on Wednesday. Range Resources Corporation has a 12 month low of $28.99 and a 12 month high of $43.50. The stock has a fifty day moving average price of $35.27 and a 200-day moving average price of $36.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The firm has a market cap of $8.55 billion, a PE ratio of 18.03, a P/E/G ratio of 0.30 and a beta of 0.55.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $708.38 million. During the same quarter in the prior year, the business posted $0.46 EPS. Equities research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 12th. Range Resources’s dividend payout ratio is currently 18.09%.

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.