Range Resources Co. (NYSE:RRC) Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. reduced its position in Range Resources Co. (NYSE:RRC) by 65.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,664 shares of the oil and gas exploration company’s stock after selling 44,515 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Range Resources were worth $793,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in shares of Range Resources by 333.0% during the fourth 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 in the last quarter. Delos Wealth Advisors LLC purchased a new stake in Range Resources during the fourth quarter worth approximately $52,000. Fifth Third Bancorp lifted its stake in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in Range Resources during the second quarter worth approximately $67,000. Finally, Private Wealth Management Group LLC purchased a new stake in Range Resources during the fourth quarter worth approximately $73,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RRC shares. Jefferies Financial Group increased their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wells Fargo & Company decreased their price objective on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Finally, Wolfe Research began coverage on Range Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus price target of $37.11.

Range Resources Stock Performance

NYSE:RRC traded down $0.14 during midday trading on Monday, reaching $30.42. 493,610 shares of the company traded hands, compared to its average volume of 2,407,526. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a fifty day moving average price of $32.28 and a 200 day moving average price of $33.71. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 15.51 and a beta of 1.88.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, analysts expect that Range Resources Co. will post 2.08 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, June 14th. Range Resources’s payout ratio is 16.24%.

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.