Dimensional Fund Advisors LP Has $263.77 Million Stock Position in Range Resources Co. (NYSE:RRC)

Dimensional Fund Advisors LP grew its stake in Range Resources Co. (NYSE:RRC) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,330,676 shares of the oil and gas exploration company’s stock after purchasing an additional 624,955 shares during the period. Dimensional Fund Advisors LP owned about 3.04% of Range Resources worth $263,768,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. LPL Financial LLC raised its holdings in Range Resources by 23.2% in the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock valued at $4,095,000 after acquiring an additional 21,440 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 buying an additional 604,199 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Range Resources during the 4th quarter worth about $380,000. Calamos Advisors LLC acquired a new stake in shares of Range Resources during the 4th quarter valued at about $567,000. Finally, Radnor Capital Management LLC increased its stake in Range Resources by 156.2% in the fourth 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 during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Down 4.4 %

NYSE:RRC opened at $32.66 on Tuesday. 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 Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The stock’s fifty day simple moving average is $37.11 and its 200-day simple moving average is $35.71. The firm has a market capitalization of $7.88 billion, a P/E ratio of 16.49, a P/E/G ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (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 company earned $0.63 EPS. Equities research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

Analysts Set New Price Targets

RRC has been the topic of a number of recent research reports. Truist Financial lifted their price objective on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Williams Trading set a $40.00 target price on shares of Range Resources in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Raymond James raised their price objective on shares of Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Finally, Barclays set a $43.00 target price on Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.43.

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.