Calamos Advisors LLC Takes Position in Range Resources Co. (NYSE:RRC)

Calamos Advisors LLC purchased a new stake in shares of Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,756 shares of the oil and gas exploration company's stock, valued at approximately $567,000.

Several other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Range Resources during the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its stake in shares of Range Resources by 59.0% during 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 during the period. Blue Trust Inc. lifted its position in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock worth $46,000 after purchasing an additional 705 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources in the fourth quarter valued at $46,000. Finally, Bogart Wealth LLC purchased a new position in shares of Range Resources in the third quarter valued at $49,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

RRC traded down $0.41 during trading on Friday, reaching $37.22. 1,349,888 shares of the company were exchanged, compared to its average volume of 2,545,791. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $36.73 and a 200 day moving average of $33.08. The stock has a market cap of $8.98 billion, a P/E ratio of 18.80 and a beta of 1.77.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

A number of equities analysts have commented on RRC shares. Wolfe Research upgraded shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price objective on the stock in a report on Friday, January 3rd. Citigroup boosted their price target on Range Resources from $33.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company increased their price target on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Truist Financial lifted their price objective on Range Resources from $31.00 to $35.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $40.00 target price on shares of Range Resources in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $38.00.

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.