400,000 Shares in Range Resources Co. (NYSE:RRC) Bought by Telemark Asset Management LLC

Telemark Asset Management LLC bought a new position in Range Resources Co. (NYSE:RRC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 400,000 shares of the oil and gas exploration company's stock, valued at approximately $14,392,000. Range Resources comprises about 1.4% of Telemark Asset Management LLC's investment portfolio, making the stock its 22nd largest holding. Telemark Asset Management LLC owned about 0.17% of Range Resources at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Lingotto Investment Management LLP raised its holdings in shares of Range Resources by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock worth $246,968,000 after buying an additional 165,242 shares in the last quarter. Geode Capital Management LLC boosted its position in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock valued at $123,174,000 after buying an additional 35,344 shares during the last quarter. Canoe Financial LP boosted its position in shares of Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company's stock worth $104,595,000 after purchasing an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Range Resources by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company's stock worth $76,011,000 after purchasing an additional 94,898 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after purchasing an additional 604,199 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms have issued reports on RRC. Wolfe Research raised Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group boosted their price objective on Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Truist Financial boosted their price target on Range Resources from $31.00 to $35.00 and gave the company a "hold" rating in a research note on Monday, January 13th. UBS Group upped their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Williams Trading set a $40.00 price objective on Range Resources in a report on Wednesday, March 5th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and a consensus target price of $39.84.

Range Resources Stock Down 0.5 %

NYSE:RRC traded down $0.19 during trading hours on Thursday, hitting $37.41. The stock had a trading volume of 2,220,119 shares, compared to its average volume of 2,318,231. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The business has a 50 day simple moving average of $38.23 and a two-hundred day simple moving average of $34.30. The company has a market cap of $9.03 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. 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. Analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Range Resources's dividend payout ratio is currently 32.73%.

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.