Range Resources Co. (NYSE:RRC) Stake Increased by Xponance Inc.

Xponance Inc. boosted its holdings in shares of Range Resources Co. (NYSE:RRC) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,186 shares of the oil and gas exploration company’s stock after buying an additional 1,202 shares during the period. Xponance Inc.’s holdings in Range Resources were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Range Resources in the 4th quarter valued at approximately $380,000. HITE Hedge Asset Management LLC purchased a new stake in Range Resources in the 3rd quarter worth approximately $11,508,000. Calamos Advisors LLC acquired a new stake in shares of Range Resources during the 4th quarter valued at $567,000. Finally, Radnor Capital Management LLC grew its holdings in shares of Range Resources by 156.2% during the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after acquiring an additional 26,213 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of NYSE RRC opened at $39.84 on Monday. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a market cap of $9.61 billion, a P/E ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80. The business’s 50 day moving average is $38.56 and its two-hundred day moving average is $34.81. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Analyst Ratings Changes

RRC has been the subject of a number of research reports. Stephens lifted their price objective on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Piper Sandler increased their price objective on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Mizuho lifted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Barclays set a $43.00 price target on shares of Range Resources and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.95.

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.