229,719 Shares in Range Resources Co. (NYSE:RRC) Purchased by Bank of Nova Scotia

Bank of Nova Scotia acquired a new position in Range Resources Co. (NYSE:RRC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 229,719 shares of the oil and gas exploration company's stock, valued at approximately $8,265,000. Bank of Nova Scotia owned approximately 0.10% of Range Resources as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RRC. Smartleaf Asset Management LLC boosted its stake in shares of Range Resources by 87.1% in 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 buying an additional 471 shares during the period. UMB Bank n.a. raised its stake in 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 valued at $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC bought a new stake in Range Resources during the fourth quarter worth about $42,000. Geneos Wealth Management Inc. acquired a new stake in Range Resources during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc raised its position in shares of 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 buying an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on RRC. Scotiabank lowered shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target on the stock. in a research report on Friday, January 17th. Wolfe Research upgraded 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. Wells Fargo & Company upped their price objective on Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Benchmark reaffirmed a "hold" rating on shares of Range Resources in a research note on Friday, January 17th. Finally, Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $41.43.

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Range Resources Stock Down 0.3 %

NYSE:RRC traded down $0.09 during trading hours on Tuesday, reaching $33.37. The company had a trading volume of 2,274,207 shares, compared to its average volume of 2,424,674. 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 firm has a market cap of $8.05 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 5.11 and a beta of 1.73. The business's 50-day simple moving average is $37.59 and its two-hundred day simple moving average is $35.64.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate 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 period last year, the business posted $0.63 EPS. On average, equities analysts expect that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio is presently 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.