GAMMA Investing LLC Acquires New Position in Range Resources Co. (NYSE:RRC)

GAMMA Investing LLC purchased a new position in shares of Range Resources Co. (NYSE:RRC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,806 shares of the oil and gas exploration company’s stock, valued at approximately $81,000.

Several other hedge funds also recently modified their holdings of the business. Raleigh Capital Management Inc. bought a new stake in Range Resources in the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources during the third quarter valued at approximately $27,000. Larson Financial Group LLC increased its holdings in Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares during the period. Fifth Third Bancorp raised its stake in shares of Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after buying an additional 490 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Range Resources in the third quarter valued at about $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Buying and Selling

In other news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday, April 24th. Morgan Stanley upped their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Piper Sandler lifted their price objective on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Raymond James lowered their target price on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup lifted their price target on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus target price of $36.65.

Range Resources Trading Up 0.1 %

NYSE:RRC opened at $37.36 on Tuesday. Range Resources Co. has a 52 week low of $23.92 and a 52 week high of $38.25. The firm’s fifty day moving average is $33.94 and its 200-day moving average is $32.42. The firm has a market cap of $9.06 billion, a P/E ratio of 18.96 and a beta of 1.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35.

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

Range Resources Dividend Announcement

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

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.