Vestmark Advisory Solutions Inc. Takes $256,000 Position in Range Resources Co. (NYSE:RRC)

Vestmark Advisory Solutions Inc. acquired a new stake in Range Resources Co. (NYSE:RRC) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,104 shares of the oil and gas exploration company’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RRC. JPMorgan Chase & Co. grew its position in shares of Range Resources by 61.9% in the third 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. HITE Hedge Asset Management LLC purchased a new stake in shares of Range Resources in the third quarter valued at $11,508,000. Raymond James Financial Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at $13,088,000. Verition Fund Management LLC grew its position in shares of Range Resources by 379.3% in the third quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock valued at $12,594,000 after purchasing an additional 324,011 shares during the period. Finally, Canoe Financial LP grew its position in shares of Range Resources by 9.4% in the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after purchasing an additional 251,200 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group lifted their target price on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler lifted their target price on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial lifted their target price on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.06.

Range Resources Trading Down 0.3 %

NYSE:RRC opened at $35.27 on Monday. 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 Co. has a one year low of $27.29 and a one year high of $41.95. The business’s 50-day simple moving average is $38.17 and its 200 day simple moving average is $34.19. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm 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 earnings per share. As a group, sell-side analysts predict that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.02%. Range Resources’s dividend payout ratio is 32.73%.

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.