Norden Group LLC Increases Stock Position in Range Resources Co. (NYSE:RRC)

Norden Group LLC boosted its stake in Range Resources Co. (NYSE:RRC) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,918 shares of the oil and gas exploration company’s stock after acquiring an additional 3,741 shares during the period. Norden Group LLC’s holdings in Range Resources were worth $789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position 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 last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Range Resources in the third quarter valued at about $11,508,000. Calamos Advisors LLC purchased a new stake in shares of Range Resources in the fourth quarter valued at about $567,000. Radnor Capital Management LLC raised its holdings in shares of Range Resources by 156.2% in the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after buying an additional 26,213 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Range Resources by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after buying an additional 92,217 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler upped their target price on shares of Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Truist Financial upped their target price on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Stephens upped their target price on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.00.

Range Resources Trading Down 0.9 %

Shares of RRC opened at $36.79 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average is $38.02 and its two-hundred day moving average is $34.02. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market capitalization of $8.88 billion, a P/E ratio of 18.58, a PEG ratio of 5.11 and a beta of 1.77.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 for the quarter, compared to analyst estimates of $676.53 million. During the same period in the prior year, the business posted $0.63 earnings per share. On average, research 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. Stockholders of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.98%. Range Resources’s dividend payout ratio is currently 29.09%.

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.