Entropy Technologies LP Acquires Shares of 7,567 Range Resources Co. (NYSE:RRC)

Entropy Technologies LP purchased a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,567 shares of the oil and gas exploration company's stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Range Resources by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock valued at $123,174,000 after acquiring an additional 35,344 shares during the last quarter. Canoe Financial LP grew its holdings in Range Resources by 9.4% during the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company's stock valued at $104,595,000 after purchasing an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Range Resources by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company's stock valued at $62,065,000 after purchasing an additional 92,217 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Range Resources by 61.9% in 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 purchasing an additional 604,199 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Range Resources by 0.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company's stock worth $36,820,000 after buying an additional 10,690 shares during the period. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RRC. Truist Financial boosted their target price on shares of Range Resources from $31.00 to $35.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Citigroup upped their price target on Range Resources from $33.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Piper Sandler raised their price objective on shares of Range Resources from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price target on shares of Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. 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 MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus target price of $38.78.

Range Resources Price Performance

Shares of RRC traded down $0.12 on Monday, hitting $38.68. The company's stock had a trading volume of 2,199,815 shares, compared to its average volume of 2,545,791. The company has a 50 day moving average price of $37.26 and a 200 day moving average price of $33.41. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a market capitalization of $9.33 billion, a PE ratio of 19.54 and a beta of 1.77. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 13th. Range Resources's dividend payout ratio is currently 16.16%.

Range Resources Company 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.