AMG National Trust Bank Acquires 16,336 Shares of Range Resources Co. (NYSE:RRC)

AMG National Trust Bank boosted its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,292 shares of the oil and gas exploration company's stock after buying an additional 16,336 shares during the quarter. AMG National Trust Bank's holdings in Range Resources were worth $2,232,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RRC. Brooklyn Investment Group purchased a new stake in Range Resources in the third quarter worth about $25,000. Smartleaf Asset Management LLC lifted its holdings in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after purchasing an additional 426 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter worth $46,000. Finally, Versant Capital Management Inc raised its position in shares of Range Resources by 42.8% during 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 period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RRC. Piper Sandler upped their target price on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Citigroup cut Range Resources from a "neutral" rating to a "reduce" rating in a research report on Wednesday, March 5th. Barclays set a $43.00 target price on Range Resources and gave the company an "equal weight" rating in a research note on Thursday, February 27th. StockNews.com lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Range Resources presently has an average rating of "Hold" and a consensus price target of $39.11.

Remove Ads

Range Resources Trading Up 0.5 %

Shares of RRC stock traded up $0.18 on Wednesday, reaching $37.63. 2,629,023 shares of the company's stock were exchanged, compared to its average volume of 2,315,694. The company's fifty day simple moving average is $38.20 and its 200 day simple moving average is $34.28. The stock has a market capitalization of $9.08 billion, a PE ratio of 19.00, a P/E/G ratio of 5.11 and a beta of 1.80. 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 52 week low of $27.29 and a 52 week high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

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

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.