Sei Investments Co. Sells 54,955 Shares of Range Resources Corporation $RRC

Sei Investments Co. cut its holdings in Range Resources Corporation (NYSE:RRC) by 15.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 304,936 shares of the oil and gas exploration company’s stock after selling 54,955 shares during the quarter. Sei Investments Co.’s holdings in Range Resources were worth $13,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Range Resources by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after buying an additional 326,748 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Range Resources by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after purchasing an additional 701,751 shares during the period. Boston Partners grew its holdings in shares of Range Resources by 14.0% during the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after buying an additional 1,650,258 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Range Resources by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock valued at $415,354,000 after buying an additional 227,711 shares in the last quarter. Finally, Kopernik Global Investors LLC increased its stake in Range Resources by 18.5% during the fourth quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after acquiring an additional 818,295 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RRC. Bank of America boosted their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Susquehanna dropped their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Zacks Research lowered shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Stephens upped their price target on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley reduced their price objective on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.35.

Range Resources Stock Down 0.8%

RRC opened at $39.61 on Friday. The firm has a market cap of $9.26 billion, a P/E ratio of 10.94 and a beta of 0.41. The business’s fifty day simple moving average is $37.97 and its 200 day simple moving average is $39.59. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities research analysts anticipate that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s payout ratio is currently 11.05%.

Range Resources Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.