Kopernik Global Investors LLC Has $97.38 Million Stake in Range Resources Co. (NYSE:RRC)

Kopernik Global Investors LLC lowered its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,706,620 shares of the oil and gas exploration company's stock after selling 291,418 shares during the quarter. Range Resources accounts for about 10.6% of Kopernik Global Investors LLC's holdings, making the stock its 2nd biggest position. Kopernik Global Investors LLC owned about 1.12% of Range Resources worth $97,384,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in shares of Range Resources in the fourth quarter valued at $33,684,000. Amundi increased its holdings in Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after acquiring an additional 826,530 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 worth $48,588,000 after acquiring an additional 604,199 shares during the last quarter. Telemark Asset Management LLC acquired a new position in Range Resources during the fourth quarter worth about $14,392,000. Finally, Boston Partners grew its position in shares of Range Resources by 4.9% in the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock valued at $287,078,000 after purchasing an additional 371,777 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRC has been the topic of a number of analyst reports. Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and increased their target price for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. Truist Financial lifted their price objective on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research report on Monday, March 17th. Benchmark restated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Royal Bank of Canada reiterated a "sector perform" rating and set a $42.00 price target on shares of Range Resources in a report on Friday, April 11th. Finally, Morgan Stanley set a $41.00 price objective on shares of Range Resources in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and a consensus price target of $41.43.

Range Resources Stock Up 0.1 %

NYSE RRC traded up $0.04 during mid-day trading on Friday, reaching $34.14. 3,726,095 shares of the company's stock traded hands, compared to its average volume of 2,439,120. The company has a fifty day simple moving average of $37.33 and a 200-day simple moving average of $35.64. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 5.11 and a beta of 1.73. 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 (NYSE:RRC - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the firm posted $0.63 EPS. As a group, equities research analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.05%. Range Resources's dividend payout ratio (DPR) 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.