Headlands Technologies LLC Purchases Shares of 1,160 Range Resources Co. (NYSE:RRC)

Headlands Technologies LLC purchased a new position in Range Resources Co. (NYSE:RRC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,160 shares of the oil and gas exploration company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC raised its stake in Range Resources by 59.9% in the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock worth $4,045,000 after acquiring an additional 49,276 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Range Resources in the third quarter worth about $234,000. Weiss Asset Management LP acquired a new stake in shares of Range Resources during the third quarter worth about $490,000. Barclays PLC lifted its holdings in shares of Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after purchasing an additional 142,938 shares during the period. Finally, M&T Bank Corp boosted its position in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of recent research reports. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $45.00 in a research report on Monday, January 13th. The Goldman Sachs Group upped their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Raymond James lifted their price objective on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Finally, Truist Financial upped their target price on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.70.

Range Resources Stock Up 0.0 %

RRC stock opened at $33.47 on Tuesday. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $38.22 and a 200-day simple moving average of $35.56. The stock has a market capitalization of $8.08 billion, a P/E ratio of 16.90, a P/E/G ratio of 5.11 and a beta of 1.73.

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

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s payout ratio is 32.73%.

Range Resources Company 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.