Mutual of America Capital Management LLC Sells 5,354 Shares of Range Resources Corporation $RRC

Mutual of America Capital Management LLC trimmed its position in shares of Range Resources Corporation (NYSE:RRC) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 118,844 shares of the oil and gas exploration company’s stock after selling 5,354 shares during the period. Mutual of America Capital Management LLC’s holdings in Range Resources were worth $4,833,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. VELA Investment Management LLC lifted its stake in shares of Range Resources by 19.2% in the 2nd quarter. VELA Investment Management LLC now owns 84,176 shares of the oil and gas exploration company’s stock valued at $3,423,000 after purchasing an additional 13,567 shares during the period. Easterly Investment Partners LLC raised its holdings in Range Resources by 123.7% in the second quarter. Easterly Investment Partners LLC now owns 278,455 shares of the oil and gas exploration company’s stock worth $11,325,000 after purchasing an additional 153,966 shares in the last quarter. Lesa Sroufe & Co lifted its position in Range Resources by 2.4% during the second quarter. Lesa Sroufe & Co now owns 96,998 shares of the oil and gas exploration company’s stock valued at $3,945,000 after buying an additional 2,275 shares during the period. Allianz Asset Management GmbH purchased a new position in Range Resources during the second quarter valued at $236,000. Finally, Bayforest Capital Ltd boosted its holdings in shares of Range Resources by 203.6% during the 2nd quarter. Bayforest Capital Ltd now owns 2,708 shares of the oil and gas exploration company’s stock valued at $110,000 after buying an additional 1,816 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RRC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Range Resources in a research report on Wednesday, October 8th. UBS Group lowered their target price on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price target on Range Resources from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Royal Bank Of Canada lifted their price objective on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Finally, Piper Sandler dropped their target price on Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus target price of $42.05.

Range Resources Stock Performance

Shares of RRC opened at $36.28 on Thursday. The business’s fifty day simple moving average is $35.71 and its two-hundred day simple moving average is $36.73. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12 month low of $29.48 and a 12 month high of $43.50. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 0.33 and a beta of 0.51.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The firm had revenue of $856.28 million during the quarter, compared to analysts’ expectations of $708.38 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. Research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal 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 paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio is currently 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.