Forum Financial Management LP Has $289,000 Holdings in Range Resources Co. (NYSE:RRC)

Forum Financial Management LP raised its position in Range Resources Co. (NYSE:RRC) by 19.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,046 shares of the oil and gas exploration company’s stock after purchasing an additional 1,293 shares during the period. Forum Financial Management LP’s holdings in Range Resources were worth $289,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in Range Resources by 180.8% in the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock valued at $6,830,000 after buying an additional 142,938 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Range Resources in the 3rd quarter valued at about $205,000. Forthright Family Wealth Advisory LLC acquired a new position in shares of Range Resources in the 3rd quarter valued at about $445,000. JPMorgan Chase & Co. boosted its position in shares of 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 in the last quarter. Finally, Versant Capital Management Inc grew its stake in Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares during the period. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on RRC shares. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Morgan Stanley set a $41.00 target price on shares of Range Resources in a research note on Tuesday, April 15th. Piper Sandler upped their price objective on shares of Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Williams Trading set a $40.00 target price on Range Resources in a research note on Wednesday, March 5th. Finally, Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.43.

Range Resources Price Performance

RRC opened at $32.66 on Tuesday. The firm has a market cap of $7.88 billion, a P/E ratio of 16.49, a PEG ratio of 5.11 and a beta of 1.73. 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 fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a 50-day moving average of $37.11 and a 200 day moving average of $35.71.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping 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 company had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter last year, the business posted $0.63 EPS. On average, research analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared 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 1.10%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 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.