Rhumbline Advisers Boosts Stock Position in Range Resources Co. (NYSE:RRC)

Rhumbline Advisers increased its stake in Range Resources Co. (NYSE:RRC) by 1.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 663,320 shares of the oil and gas exploration company’s stock after buying an additional 10,401 shares during the period. Rhumbline Advisers owned 0.27% of Range Resources worth $23,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after buying an additional 35,344 shares during the last quarter. Canoe Financial LP boosted its stake in Range Resources by 9.4% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in Range Resources by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after purchasing an additional 92,217 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Range Resources by 61.9% during 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 purchasing an additional 604,199 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Range Resources by 0.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock valued at $36,820,000 after purchasing an additional 10,690 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 2.7 %

Shares of RRC stock opened at $39.97 on Thursday. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $37.44 and its 200-day moving average price is $33.53. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 20.19 and a beta of 1.77.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.80%. Range Resources’s payout ratio is currently 16.16%.

Analyst Ratings Changes

Several brokerages have commented on RRC. Piper Sandler increased their target price on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their target price on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Truist Financial increased their target price on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Finally, UBS Group increased their price target on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus target price of $38.78.

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.