Universal Beteiligungs und Servicegesellschaft mbH Sells 7,397 Shares of Range Resources Corporation $RRC

Universal Beteiligungs und Servicegesellschaft mbH lowered its holdings in Range Resources Corporation (NYSE:RRC) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,981 shares of the oil and gas exploration company’s stock after selling 7,397 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Range Resources were worth $1,057,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RRC. Boston Partners raised its holdings in shares of Range Resources by 6.1% in the second quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company’s stock valued at $301,133,000 after buying an additional 425,704 shares during the last quarter. Kopernik Global Investors LLC increased its position in Range Resources by 5.2% in the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company’s stock valued at $113,667,000 after acquiring an additional 140,043 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Range Resources by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company’s stock valued at $85,899,000 after acquiring an additional 38,648 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Range Resources by 50.1% in the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock worth $56,103,000 after acquiring an additional 468,841 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of Range Resources by 21.9% during the first quarter. Jefferies Financial Group Inc. now owns 968,759 shares of the oil and gas exploration company’s stock worth $38,683,000 after purchasing an additional 173,785 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Performance

Shares of Range Resources stock opened at $38.52 on Thursday. The firm has a fifty day moving average of $37.34 and a two-hundred day moving average of $37.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.39 and a beta of 0.49. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The business had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. During the same period last year, the company earned $0.48 EPS. The firm’s revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Susquehanna decreased their price objective on Range Resources to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Mizuho lifted their target price on Range Resources from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Piper Sandler dropped their target price on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Finally, Raymond James Financial cut their price target on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.85.

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.