Vaughan Nelson Investment Management L.P. Has $21.83 Million Position in Range Resources Corporation $RRC

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Range Resources Corporation (NYSE:RRC) by 53.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 536,860 shares of the oil and gas exploration company’s stock after selling 616,235 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.22% of Range Resources worth $21,834,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Range Resources by 23.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,094 shares of the oil and gas exploration company’s stock worth $327,000 after purchasing an additional 1,756 shares in the last quarter. GAMMA Investing LLC lifted its stake in Range Resources by 5,122.5% in the first quarter. GAMMA Investing LLC now owns 229,318 shares of the oil and gas exploration company’s stock valued at $9,157,000 after buying an additional 224,927 shares in the last quarter. Merit Financial Group LLC bought a new position in Range Resources in the first quarter valued at approximately $218,000. Radnor Capital Management LLC lifted its stake in Range Resources by 2.1% in the first quarter. Radnor Capital Management LLC now owns 43,913 shares of the oil and gas exploration company’s stock valued at $1,753,000 after buying an additional 920 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in Range Resources by 11.3% in the first quarter. Congress Asset Management Co. now owns 623,486 shares of the oil and gas exploration company’s stock valued at $24,896,000 after buying an additional 63,390 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup cut their price target on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. Roth Capital lowered shares of Range Resources from a “buy” rating to a “neutral” rating and cut their price target for the company from $44.00 to $35.00 in a research note on Monday, August 18th. Piper Sandler cut their price target on shares of Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Scotiabank set a $46.00 price target on Range Resources and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Finally, Barclays upped their price target on Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Eight research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.80.

Range Resources Trading Down 0.9%

NYSE:RRC opened at $38.24 on Friday. Range Resources Corporation has a twelve month low of $28.99 and a twelve month high of $43.50. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $35.18 and a two-hundred day moving average price of $36.89. The company has a market cap of $9.11 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 0.33 and a beta of 0.51.

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. The firm had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the firm posted $0.46 EPS. As a group, analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio is presently 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.