Charles Schwab Investment Management Inc. Increases Holdings in Range Resources Co. (NYSE:RRC)

Charles Schwab Investment Management Inc. grew its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,112,602 shares of the oil and gas exploration company's stock after purchasing an additional 94,898 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of Range Resources worth $76,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after buying an additional 604,199 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Range Resources during the 3rd quarter valued at $11,508,000. Verition Fund Management LLC increased its stake in shares of Range Resources by 379.3% in the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company's stock worth $12,594,000 after purchasing an additional 324,011 shares in the last quarter. Canoe Financial LP raised its holdings in 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 period. Finally, Lingotto Investment Management LLP raised its holdings in 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 purchasing an additional 165,242 shares during the period. Institutional investors own 98.93% of the company's stock.

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Wall Street Analyst Weigh In

RRC has been the subject of a number of analyst reports. Barclays set a $43.00 price target on Range Resources and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. StockNews.com cut shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Mizuho upped their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. Truist Financial raised their price objective on shares of Range Resources from $31.00 to $35.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Range Resources presently has an average rating of "Hold" and a consensus price target of $39.84.

Range Resources Price Performance

Shares of NYSE RRC traded up $0.96 during mid-day trading on Friday, hitting $38.33. 1,770,805 shares of the company's stock traded hands, compared to its average volume of 2,315,845. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The company's 50-day moving average is $38.23 and its two-hundred day moving average is $34.30. The company has a market capitalization of $9.25 billion, a P/E ratio of 19.36, a PEG ratio of 5.11 and a beta of 1.80.

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

Range Resources Increases Dividend

The company 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 represents a $0.36 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio (DPR) is 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.