Moody Aldrich Partners LLC Buys New Stake in Range Resources Co. (NYSE:RRC)

Moody Aldrich Partners LLC purchased a new stake in Range Resources Co. (NYSE:RRC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,421 shares of the oil and gas exploration company’s stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Canoe Financial LP boosted its stake in shares of Range Resources by 114.9% in the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after buying an additional 1,422,200 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 604,199 shares during the period. HITE Hedge Asset Management LLC purchased a new stake in Range Resources in the 3rd quarter worth approximately $11,508,000. Verition Fund Management LLC boosted its position in Range Resources by 379.3% in the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock worth $12,594,000 after purchasing an additional 324,011 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Range Resources by 853.0% during the 3rd quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company’s stock worth $6,106,000 after purchasing an additional 177,689 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Price Performance

RRC stock opened at $37.66 on Thursday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. 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 firm has a market capitalization of $9.09 billion, a PE ratio of 19.02 and a beta of 1.81. The business has a 50 day simple moving average of $36.47 and a 200-day simple moving average of $32.89.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RRC shares. Piper Sandler increased their price target on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday. Stephens raised their target price on Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Finally, UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and upped their target price for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.67.

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.