Dimensional Fund Advisors LP Acquires 624,955 Shares of Range Resources Co. (NYSE:RRC)

Dimensional Fund Advisors LP lifted its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,330,676 shares of the oil and gas exploration company's stock after purchasing an additional 624,955 shares during the period. Dimensional Fund Advisors LP owned about 3.04% of Range Resources worth $263,768,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC grew its position in Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock worth $6,830,000 after acquiring an additional 142,938 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Range Resources in the third quarter worth $205,000. Forthright Family Wealth Advisory LLC bought a new stake in Range Resources during the 3rd quarter valued at $445,000. JPMorgan Chase & Co. boosted its position in Range Resources by 61.9% during 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 buying an additional 604,199 shares during the period. Finally, Versant Capital Management Inc grew its holdings in 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 worth $56,000 after acquiring an additional 463 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RRC. Royal Bank of Canada reissued a "sector perform" rating and issued a $42.00 target price on shares of Range Resources in a research note on Friday, April 11th. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective on the stock. in a research report on Friday, January 17th. Morgan Stanley set a $41.00 target price on Range Resources in a report on Tuesday, April 15th. Truist Financial lifted their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Finally, Bank of America upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Range Resources currently has a consensus rating of "Hold" and an average target price of $41.50.

Range Resources Stock Up 2.9 %

Shares of Range Resources stock traded up $0.97 on Friday, reaching $34.83. The company's stock had a trading volume of 2,827,194 shares, compared to its average volume of 2,460,352. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 5.11 and a beta of 1.73. The company has a quick ratio of 0.54, a current 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. The firm's fifty day simple moving average is $36.81 and its two-hundred day simple moving average is $35.70.

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

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. This is a boost 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%.

Range Resources Profile

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.