WINTON GROUP Ltd Invests $825,000 in Range Resources Co. (NYSE:RRC)

WINTON GROUP Ltd bought a new stake in Range Resources Co. (NYSE:RRC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,917 shares of the oil and gas exploration company’s stock, valued at approximately $825,000.

A number of other large investors have also recently bought and sold shares of RRC. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Range Resources during the fourth quarter valued at $212,000. Congress Wealth Management LLC DE boosted its stake in shares of Range Resources by 7.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 79,037 shares of the oil and gas exploration company’s stock worth $2,844,000 after purchasing an additional 5,160 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Range Resources by 23.2% during the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock worth $4,095,000 after buying an additional 21,440 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $1,795,000. Finally, American Century Companies Inc. lifted its stake in shares of Range Resources by 7.9% during the fourth quarter. American Century Companies Inc. now owns 361,966 shares of the oil and gas exploration company’s stock valued at $13,024,000 after buying an additional 26,526 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on RRC. Piper Sandler boosted their price target on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Williams Trading set a $40.00 price target on Range Resources in a research note on Wednesday, March 5th. Wells Fargo & Company upped their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and a consensus target price of $40.89.

Range Resources Stock Performance

Range Resources stock opened at $39.19 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The stock’s 50 day moving average price is $38.52 and its 200 day moving average price is $35.17. The firm has a market capitalization of $9.46 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $676.53 million. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, sell-side analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change 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%.

About Range Resources

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.