Norden Group LLC Buys 7,762 Shares of Range Resources Co. (NYSE:RRC)

Norden Group LLC increased its stake in shares of Range Resources Co. (NYSE:RRCFree Report) by 88.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,568 shares of the oil and gas exploration company’s stock after purchasing an additional 7,762 shares during the period. Norden Group LLC’s holdings in Range Resources were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Glenorchy Capital Ltd purchased a new position in shares of Range Resources in the 4th quarter worth $1,799,000. TFO Wealth Partners LLC boosted its stake in Range Resources by 302,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 21,187 shares of the oil and gas exploration company’s stock worth $645,000 after purchasing an additional 21,180 shares during the period. DRW Securities LLC grew its stake in Range Resources by 150.0% during the fourth quarter. DRW Securities LLC now owns 50,000 shares of the oil and gas exploration company’s stock valued at $1,522,000 after acquiring an additional 30,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Range Resources by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after purchasing an additional 90,028 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in Range Resources by 39.1% in the 4th quarter. Bridgewater Associates LP now owns 528,042 shares of the oil and gas exploration company’s stock worth $16,074,000 after acquiring an additional 148,550 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles G. Griffie purchased 1,500 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the purchase, the director now directly owns 4,646 shares of the company’s stock, valued at approximately $160,983.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Range Resources news, Director Charles G. Griffie bought 1,500 shares of Range Resources stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $34.65 per share, for a total transaction of $51,975.00. Following the acquisition, the director now owns 4,646 shares of the company’s stock, valued at approximately $160,983.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Reginal Spiller sold 1,460 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now directly owns 15,253 shares in the company, valued at $589,986.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,107 shares of company stock valued at $7,379,095. 2.50% of the stock is currently owned by company insiders.

Range Resources Price Performance

RRC stock opened at $33.49 on Thursday. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 17.00 and a beta of 1.87. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a 52-week low of $27.60 and a 52-week high of $39.33. The stock’s fifty day simple moving average is $35.65 and its 200-day simple moving average is $33.37.

Range Resources (NYSE:RRCGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business earned $0.96 EPS. The firm’s revenue was down 15.7% on a year-over-year basis. Equities research analysts expect that Range Resources Co. will post 2.12 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. Range Resources’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RRC shares. Susquehanna lifted their target price on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Piper Sandler lifted their price objective on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada cut Range Resources from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $36.00 to $39.00 in a research report on Friday, April 26th. Jefferies Financial Group boosted their price objective on shares of Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their price target for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.15.

Get Our Latest Analysis on RRC

Range Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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