Range Resources Co. (NYSE:RRC) Holdings Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in Range Resources Co. (NYSE:RRC - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,019 shares of the oil and gas exploration company's stock after selling 13,224 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Range Resources worth $9,823,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised 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 valued at $48,588,000 after purchasing an additional 604,199 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Range Resources in the fourth quarter valued at $380,000. HITE Hedge Asset Management LLC bought a new position in Range Resources during the 3rd quarter valued at $11,508,000. Calamos Advisors LLC acquired a new position in Range Resources during the 4th quarter worth $567,000. Finally, Radnor Capital Management LLC increased its position in shares of Range Resources by 156.2% in the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock worth $1,547,000 after purchasing an additional 26,213 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RRC shares. Stephens increased their price target on shares of Range Resources from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Raymond James increased their target price on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday. Citigroup downgraded Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Royal Bank of Canada restated a "sector perform" rating and set a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Range Resources currently has an average rating of "Hold" and a consensus price target of $41.60.

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Range Resources Stock Performance

RRC traded up $0.72 during trading hours on Monday, hitting $39.91. The company's stock had a trading volume of 2,964,331 shares, compared to its average volume of 2,354,311. The company has a 50-day simple moving average of $38.49 and a 200 day simple moving average of $35.29. 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 market capitalization of $9.63 billion, a PE ratio of 20.15, a PEG ratio of 5.11 and a beta of 1.80. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $676.53 million. During the same period last year, the company earned $0.63 earnings per share. As a group, sell-side analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend 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.