Oppenheimer & Co. Inc. Invests $986,000 in Range Resources Co. (NYSE:RRC)

Oppenheimer & Co. Inc. purchased a new stake in Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 27,407 shares of the oil and gas exploration company's stock, valued at approximately $986,000.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Range Resources in the third quarter valued at approximately $25,000. UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% in 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 purchasing an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $46,000. Versant Capital Management Inc grew its holdings in shares of Range Resources by 42.8% in 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 purchasing an additional 463 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Range Resources by 72.0% in the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock valued at $78,000 after purchasing an additional 912 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RRC shares. Benchmark restated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Truist Financial boosted their price target on shares of Range Resources from $31.00 to $35.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Barclays set a $43.00 price target on shares of Range Resources and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Royal Bank of Canada reiterated a "sector perform" rating and set a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $39.06.

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Range Resources Stock Performance

RRC stock traded down $0.11 on Friday, hitting $35.27. The company's stock had a trading volume of 3,040,270 shares, compared to its average volume of 2,940,131. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 5.11 and a beta of 1.77. 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 1 year low of $27.29 and a 1 year high of $41.95. The firm has a 50 day moving average of $38.16 and a two-hundred day moving average of $34.11.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during 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 quarter in the prior year, the firm earned $0.63 EPS. Equities analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. This is an increase from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is presently 29.09%.

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.