Fmr LLC Sells 612,836 Shares of Range Resources Co. (NYSE:RRC)

FMR LLC lowered its position in Range Resources Co. (NYSE:RRC - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,865,371 shares of the oil and gas exploration company's stock after selling 612,836 shares during the quarter. FMR LLC owned 11.13% of Range Resources worth $966,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RRC. Smartleaf Asset Management LLC lifted its position in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. increased its holdings 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 acquiring an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new position in Range Resources during the fourth quarter worth $42,000. Geneos Wealth Management Inc. bought a new position in Range Resources in the 4th quarter valued at about $46,000. Finally, Versant Capital Management Inc boosted its position in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after buying an additional 463 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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Range Resources Trading Up 3.3 %

RRC stock traded up $1.06 during midday trading on Friday, hitting $33.31. The company had a trading volume of 3,499,772 shares, compared to its average volume of 2,427,395. The company has a current ratio of 0.54, a quick 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 stock has a market cap of $8.04 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 5.11 and a beta of 1.73. The stock's 50 day moving average price is $37.70 and its 200 day moving average price is $35.62.

Range Resources (NYSE:RRC - Get Free Report) last released 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. As a group, equities research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.09 dividend. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. Range Resources's dividend payout ratio (DPR) is presently 32.73%.

Analysts Set New Price Targets

Several brokerages have recently commented on RRC. Scotiabank downgraded shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price for the company. in a report on Friday, January 17th. Morgan Stanley raised shares of Range Resources from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $40.00 to $49.00 in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. Wells Fargo & Company increased their price target 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. Finally, Piper Sandler upped their target price on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $41.81.

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.