Assenagon Asset Management S.A. Buys Shares of 133,192 Range Resources Co. (NYSE:RRC)

Assenagon Asset Management S.A. bought a new position in Range Resources Co. (NYSE:RRC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 133,192 shares of the oil and gas exploration company's stock, valued at approximately $4,792,000. Assenagon Asset Management S.A. owned about 0.06% of Range Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Range Resources in the third quarter worth $25,000. Blue Trust Inc. boosted its stake in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock valued at $46,000 after acquiring an additional 705 shares during the period. Bogart Wealth LLC acquired a new stake in Range Resources in the third quarter worth $49,000. Versant Capital Management Inc lifted its position in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after purchasing an additional 463 shares during the last quarter. Finally, CWM LLC grew its position in Range Resources by 276.8% in the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company's stock worth $71,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stephens upped their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Barclays upgraded Range Resources from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. Piper Sandler cut their target price on shares of Range Resources from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Monday, November 18th. UBS Group raised shares of Range Resources from a "sell" rating to a "neutral" rating and upped their price target for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. Finally, Mizuho upped their target price on Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.16.

Range Resources Price Performance

NYSE RRC traded down $0.24 during trading on Tuesday, reaching $40.83. 1,206,797 shares of the company traded hands, compared to its average volume of 2,763,267. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.65. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 20.64 and a beta of 1.81. The stock's 50 day moving average price is $35.75 and its two-hundred day moving average price is $32.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. As a group, analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, December 13th. Range Resources's dividend payout ratio is 16.16%.

Insider Activity

In related news, Director Charles G. Griffie acquired 1,275 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.50% of the company's stock.

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.