Entropy Technologies LP Acquires New Position in Range Resources Co. (NYSE:RRC)

Entropy Technologies LP acquired a new stake in shares of Range Resources Co. (NYSE:RRC) during the fourth quarter, Holdings Channel.com reports. The fund acquired 7,567 shares of the oil and gas exploration company’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in Range Resources in the third quarter worth approximately $25,000. UMB Bank n.a. grew its position in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Range Resources in the fourth quarter worth approximately $46,000. Blue Trust Inc. grew its position in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RRC has been the subject of several recent research reports. UBS Group boosted their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday. Mizuho upped their price objective on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, January 3rd. Truist Financial upped their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company upped their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.78.

Range Resources Trading Up 0.8 %

Shares of RRC stock opened at $38.80 on Friday. The firm has a fifty day moving average of $37.08 and a 200-day moving average of $33.28. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 19.60 and a beta of 1.77. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

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.