Vanguard Group Inc. Purchases 26,113 Shares of Range Resources Co. (NYSE:RRC)

Vanguard Group Inc. increased its holdings in Range Resources Co. (NYSE:RRC) by 0.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,500,302 shares of the oil and gas exploration company’s stock after buying an additional 26,113 shares during the period. Vanguard Group Inc. owned 10.15% of Range Resources worth $881,521,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. LPL Financial LLC increased its stake 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 worth $4,095,000 after purchasing an additional 21,440 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Range Resources during the 4th quarter valued at $1,795,000. American Century Companies Inc. raised its holdings in Range Resources by 7.9% in the 4th quarter. American Century Companies Inc. now owns 361,966 shares of the oil and gas exploration company’s stock worth $13,024,000 after purchasing an additional 26,526 shares in the last quarter. Xponance Inc. lifted its position in shares of Range Resources by 4.6% in the 4th quarter. Xponance Inc. now owns 27,186 shares of the oil and gas exploration company’s stock worth $978,000 after purchasing an additional 1,202 shares during the period. Finally, Boston Partners grew its holdings in shares of Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after acquiring an additional 371,777 shares during the period. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Truist Financial increased their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Morgan Stanley upgraded Range Resources from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $49.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.89.

Range Resources Trading Up 1.0 %

Shares of RRC stock opened at $39.19 on Friday. The stock has a 50 day simple moving average of $38.52 and a 200-day simple moving average of $35.17. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 5.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

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

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.92%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources’s payout ratio is presently 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.