Allspring Global Investments Holdings LLC Has $147,000 Stock Holdings in Range Resources Co. (NYSE:RRC)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Range Resources Co. (NYSE:RRC) by 86.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,838 shares of the oil and gas exploration company’s stock after acquiring an additional 2,242 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Range Resources were worth $147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC acquired a new position in Range Resources during the third quarter worth about $27,000. Schroder Investment Management Group increased its position in Range Resources by 23.7% during the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after purchasing an additional 87,624 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in Range Resources by 17.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Range Resources in the 3rd quarter valued at approximately $19,704,000. Finally, Cambria Investment Management L.P. grew its stake in shares of Range Resources by 8.5% during the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock worth $8,588,000 after buying an additional 20,685 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of research reports. Royal Bank of Canada cut Range Resources from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $36.00 to $39.00 in a research note on Friday. Citigroup increased their target price on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Morgan Stanley boosted their price target on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. Stephens upped their price objective on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Finally, Mizuho reiterated a “buy” rating and set a $41.00 target price (up from $39.00) on shares of Range Resources in a research report on Friday. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.65.

Range Resources Price Performance

Range Resources stock opened at $37.31 on Monday. Range Resources Co. has a 12 month low of $23.92 and a 12 month high of $38.25. The company has a current ratio of 1.35, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $32.40. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the previous year, the business earned $0.96 EPS. Range Resources’s revenue was down 15.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Co. will post 2 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.57% of the stock is currently owned by insiders.

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.