Mirabella Financial Services LLP Invests $951,000 in Range Resources Co. (NYSE:RRC)

Mirabella Financial Services LLP bought a new stake in shares of Range Resources Co. (NYSE:RRC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 26,449 shares of the oil and gas exploration company's stock, valued at approximately $951,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in shares of Range Resources by 4.9% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after buying an additional 624,955 shares in the last quarter. Lingotto Investment Management LLP grew its stake in Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock valued at $246,968,000 after purchasing an additional 165,242 shares in the last quarter. Canoe Financial LP grew its stake in shares of Range Resources by 9.4% in 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 buying an additional 251,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Range Resources by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company's stock worth $76,011,000 after purchasing an additional 94,898 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RRC shares. Piper Sandler reduced their price objective on shares of Range Resources from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday. UBS Group boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday. Bank of America raised Range Resources from a "neutral" rating to a "buy" rating and raised their price objective for the company from $34.00 to $45.00 in a research note on Monday, January 13th. Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and increased their price target for the company from $41.00 to $42.00 in a research note on Tuesday, April 8th. Finally, Raymond James raised their price target on shares of Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Range Resources presently has an average rating of "Hold" and a consensus price target of $41.50.

Range Resources Stock Up 2.9 %

NYSE RRC traded up $0.97 during mid-day trading on Friday, hitting $34.83. The company's stock had a trading volume of 2,789,922 shares, compared to its average volume of 2,460,203. 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 twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 5.11 and a beta of 1.73. The company's 50 day simple moving average is $36.81 and its 200 day simple moving average is $35.70.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping 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 return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the previous year, the business earned $0.63 EPS. 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 announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. Range Resources's 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.