Principal Financial Group Inc. lowered its stake in shares of Range Resources Co. (NYSE:RRC – Get Rating) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,683,439 shares of the oil and gas exploration company’s stock after selling 107,991 shares during the period. Principal Financial Group Inc.’s holdings in Range Resources were worth $30,016,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in RRC. O Shaughnessy Asset Management LLC bought a new stake in Range Resources during the third quarter worth approximately $25,000. Crestmont Private Wealth LLC bought a new stake in Range Resources during the fourth quarter worth approximately $53,000. Allegheny Financial Group LTD bought a new stake in Range Resources during the fourth quarter worth approximately $83,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Range Resources during the third quarter worth approximately $113,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Range Resources by 10.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,596 shares of the oil and gas exploration company’s stock worth $149,000 after purchasing an additional 634 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.
In other Range Resources news, SVP Dori Ginn sold 10,000 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $32.60, for a total transaction of $326,000.00. Following the completion of the transaction, the senior vice president now directly owns 75,098 shares in the company, valued at $2,448,194.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Range Resources stock opened at $27.08 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a fifty day moving average price of $29.67 and a two-hundred day moving average price of $23.79. Range Resources Co. has a 52-week low of $11.77 and a 52-week high of $34.61. The firm has a market capitalization of $7.31 billion, a P/E ratio of -56.42, a P/E/G ratio of 0.21 and a beta of 1.99.
Range Resources (NYSE:RRC – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The oil and gas exploration company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.03. Range Resources had a positive return on equity of 45.50% and a negative net margin of 2.90%. The firm had revenue of $986.66 million during the quarter, compared to analyst estimates of $955.47 million. During the same period in the prior year, the company posted $0.30 earnings per share. On average, equities research analysts predict that Range Resources Co. will post 4.54 EPS for the current fiscal year.
Range Resources announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 22nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas exploration company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Range Resources Profile (Get Rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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