Victory Capital Management Inc. Cuts Stake in Range Resources Co. (NYSE:RRC)

Victory Capital Management Inc. lowered its position in shares of Range Resources Co. (NYSE:RRC) by 46.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,783 shares of the oil and gas exploration company’s stock after selling 26,757 shares during the period. Victory Capital Management Inc.’s holdings in Range Resources were worth $697,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Kestra Advisory Services LLC boosted its position in Range Resources by 4.8% during the third quarter. Kestra Advisory Services LLC now owns 10,942 shares of the oil and gas exploration company’s stock valued at $248,000 after purchasing an additional 500 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Range Resources by 0.5% during the second quarter. Great West Life Assurance Co. Can now owns 226,628 shares of the oil and gas exploration company’s stock valued at $3,798,000 after purchasing an additional 1,106 shares in the last quarter. Lesa Sroufe & Co boosted its position in Range Resources by 1.0% during the third quarter. Lesa Sroufe & Co now owns 128,398 shares of the oil and gas exploration company’s stock valued at $2,906,000 after purchasing an additional 1,220 shares in the last quarter. Advisory Services Network LLC bought a new stake in Range Resources during the second quarter valued at about $25,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Range Resources during the second quarter valued at about $29,000. 91.16% of the stock is currently owned by institutional investors.

Shares of RRC stock opened at $21.79 on Friday. The stock has a market cap of $5.66 billion, a P/E ratio of -11.91, a P/E/G ratio of 0.20 and a beta of 2.22. Range Resources Co. has a twelve month low of $8.18 and a twelve month high of $26.48. The stock has a 50 day moving average of $19.98 and a 200 day moving average of $18.85. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.31.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Monday, October 25th. The oil and gas exploration company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). The business had revenue of $302.64 million during the quarter, compared to analysts’ expectations of $719.15 million. Range Resources had a negative net margin of 22.48% and a positive return on equity of 17.74%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. On average, research analysts predict that Range Resources Co. will post 2.06 earnings per share for the current fiscal year.

In other news, SVP David P. Poole sold 12,453 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $24.50, for a total value of $305,098.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Several equities research analysts have weighed in on RRC shares. Truist lowered their price target on Range Resources from $27.00 to $24.00 in a report on Friday. Zacks Investment Research downgraded Range Resources from a “hold” rating to a “sell” rating and set a $19.00 price target for the company. in a report on Thursday, January 6th. Truist Securities lowered their price target on Range Resources from $27.00 to $24.00 in a report on Friday. Wells Fargo & Company raised their price target on Range Resources from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 5th. Finally, Mizuho decreased their target price on Range Resources from $28.00 to $24.00 in a report on Monday, January 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and an average price target of $20.68.

About Range Resources

Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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