Zurcher Kantonalbank Zurich Cantonalbank Buys 10,100 Shares of Range Resources Co. (NYSE:RRC)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Range Resources Co. (NYSE:RRC) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,686 shares of the oil and gas exploration company’s stock after buying an additional 10,100 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Range Resources were worth $2,363,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position 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 worth $48,588,000 after buying an additional 604,199 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Range Resources in the 4th quarter valued at approximately $380,000. HITE Hedge Asset Management LLC purchased a new position in shares of Range Resources in the 3rd quarter valued at approximately $11,508,000. Calamos Advisors LLC purchased a new position in shares of Range Resources in the 4th quarter valued at approximately $567,000. Finally, Radnor Capital Management LLC lifted its stake in shares of Range Resources by 156.2% in 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 purchasing an additional 26,213 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Up 2.3 %

RRC opened at $38.33 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company’s 50 day simple moving average is $38.31 and its two-hundred day simple moving average is $34.45. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the previous year, the company earned $0.63 EPS. Analysts expect that Range Resources Co. will post 2.02 EPS 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. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRC. Mizuho raised their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Truist Financial lifted their price objective on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Stephens lifted their price objective on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group lifted their price objective on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.84.

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.