Silvercrest Asset Management Group LLC Reduces Stake in Range Resources Co. (NYSE:RRC)

Silvercrest Asset Management Group LLC trimmed its position in shares of Range Resources Co. (NYSE:RRC) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 65,115 shares of the oil and gas exploration company’s stock after selling 823 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Range Resources were worth $2,242,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 666 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in Range Resources during the fourth quarter worth about $52,000. Private Wealth Management Group LLC purchased a new stake in shares of Range Resources in the fourth quarter valued at about $73,000. SYSTM Wealth Solutions LLC grew its position in shares of Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Range Resources during the 4th quarter worth approximately $81,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RRC shares. Stephens increased their target price on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Wells Fargo & Company decreased their price objective on Range Resources from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday. Truist Financial cut their target price on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Barclays started coverage on shares of Range Resources in a report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.30.

Range Resources Stock Performance

NYSE:RRC opened at $31.40 on Wednesday. The company has a market cap of $7.60 billion, a P/E ratio of 15.94 and a beta of 1.87. The firm’s 50 day moving average is $34.60 and its two-hundred day moving average is $33.62. Range Resources Co. has a fifty-two week low of $27.60 and a fifty-two week high of $39.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. During the same period in the prior year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Range Resources Co. will post 2.06 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, June 14th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Activity

In related news, SVP Erin W. Mcdowell sold 18,028 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $36.91, for a total transaction of $665,413.48. Following the completion of the sale, the senior vice president now owns 40,175 shares of the company’s stock, valued at approximately $1,482,859.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Erin W. Mcdowell sold 18,028 shares of Range Resources stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $36.91, for a total transaction of $665,413.48. Following the transaction, the senior vice president now owns 40,175 shares in the company, valued at approximately $1,482,859.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reginal Spiller sold 1,460 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the sale, the director now owns 15,253 shares of the company’s stock, valued at $589,986.04. The disclosure for this sale can be found here. Insiders have sold 181,129 shares of company stock valued at $6,775,926 in the last three months. Corporate insiders own 1.57% of the company’s stock.

Range Resources 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.