King Luther Capital Management Corp Acquires 390 Shares of Range Resources Co. (NYSE:RRC)

King Luther Capital Management Corp grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,410 shares of the oil and gas exploration company’s stock after buying an additional 390 shares during the period. King Luther Capital Management Corp’s holdings in Range Resources were worth $1,130,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Lingotto Investment Management LLP increased its position in Range Resources by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after buying an additional 165,242 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after acquiring an additional 35,344 shares in the last quarter. Canoe Financial LP increased its holdings in shares of Range Resources by 9.4% during the fourth 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 acquiring an additional 251,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Range Resources by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company’s stock worth $76,011,000 after purchasing an additional 94,898 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 604,199 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RRC. StockNews.com lowered shares of Range Resources from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Mizuho upped their price objective on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Stephens upped their target price on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Truist Financial lifted their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Williams Trading set a $40.00 price objective on Range Resources in a research note on Wednesday, March 5th. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.84.

Range Resources Stock Performance

NYSE RRC opened at $37.41 on Friday. The company’s 50 day simple moving average is $38.23 and its two-hundred day simple moving average is $34.30. The stock has a market capitalization of $9.03 billion, a PE ratio of 18.90, a P/E/G 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 Co. has a 1 year low of $27.29 and a 1 year high of $41.95.

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

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio (DPR) 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.