Range Resources Co. (NYSE:RRC) Stock Position Raised by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in shares of Range Resources Co. (NYSE:RRC) by 24.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,822 shares of the oil and gas exploration company’s stock after purchasing an additional 83,353 shares during the period. Ameriprise Financial Inc. owned 0.18% of Range Resources worth $15,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock valued at $6,830,000 after acquiring an additional 142,938 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Range Resources during the 4th quarter valued at about $4,792,000. Canoe Financial LP increased its holdings in shares of Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after acquiring an additional 251,200 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Range Resources by 30.1% during the 4th quarter. Diversify Wealth Management LLC now owns 14,997 shares of the oil and gas exploration company’s stock valued at $572,000 after acquiring an additional 3,466 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total value of $1,449,057.00. Following the completion of the transaction, the chief executive officer now directly owns 58,431 shares of the company’s stock, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the transaction, the senior vice president now directly owns 13,800 shares of the company’s stock, valued at approximately $560,556. The trade was a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,880 shares of company stock valued at $2,815,807 over the last three months. Company insiders own 1.00% of the company’s stock.

Range Resources Trading Down 0.5%

RRC stock opened at $40.11 on Friday. The company has a market cap of $9.59 billion, a P/E ratio of 20.26, a PEG ratio of 5.11 and a beta of 0.60. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $36.56 and a 200-day moving average of $36.41.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, equities research analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. Range Resources’s payout ratio is 32.14%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RRC. Raymond James increased their price objective on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Piper Sandler increased their price objective on Range Resources from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. UBS Group increased their price objective on Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 target price on shares of Range Resources in a report on Friday, April 11th. Finally, Susquehanna lowered their target price on Range Resources from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.85.

Range Resources Company 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.