Range Resources Co. (NYSE:RRC) Stake Increased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its holdings in Range Resources Co. (NYSE:RRCFree Report) by 7.1% in the third quarter, HoldingsChannel.com reports. The firm owned 719,164 shares of the oil and gas exploration company’s stock after acquiring an additional 47,580 shares during the period. Royal London Asset Management Ltd.’s holdings in Range Resources were worth $23,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Schroder Investment Management Group boosted its holdings in shares of Range Resources by 23.7% during the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after acquiring an additional 87,624 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Range Resources by 17.7% in the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Range Resources in the third quarter valued at $203,000. Ameriprise Financial Inc. lifted its holdings in shares of Range Resources by 14.9% in the third quarter. Ameriprise Financial Inc. now owns 906,022 shares of the oil and gas exploration company’s stock valued at $29,385,000 after purchasing an additional 117,358 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Range Resources by 217.5% in the third quarter. Lazard Asset Management LLC now owns 3,105 shares of the oil and gas exploration company’s stock worth $100,000 after acquiring an additional 2,127 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RRC. Raymond James lowered their target price on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Piper Sandler cut their price target on shares of Range Resources from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company cut shares of Range Resources from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $40.00 to $32.00 in a research note on Thursday, December 14th. Citigroup cut their target price on shares of Range Resources from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, December 11th. Finally, Stifel Nicolaus cut their target price on shares of Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus target price of $34.86.

View Our Latest Stock Report on Range Resources

Range Resources Trading Up 0.2 %

RRC opened at $32.85 on Friday. The stock has a market capitalization of $7.95 billion, a P/E ratio of 9.28, a P/E/G ratio of 0.55 and a beta of 1.83. Range Resources Co. has a 12 month low of $22.72 and a 12 month high of $37.88. The firm’s fifty day simple moving average is $30.28 and its 200 day simple moving average is $31.74. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRCGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The firm had revenue of $941.40 million for the quarter, compared to analysts’ expectations of $672.25 million. During the same period in the previous year, the firm posted $1.26 EPS. The company’s revenue for the quarter was down 42.3% on a year-over-year basis. As a group, research analysts anticipate that Range Resources Co. will post 2.09 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. Range Resources’s dividend payout ratio is presently 9.04%.

Range Resources Profile

(Free Report)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.

Further Reading

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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