Range Resources Co. (NYSE:RRC) Position Raised by Canoe Financial LP

Canoe Financial LP boosted its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,911,509 shares of the oil and gas exploration company's stock after acquiring an additional 251,200 shares during the period. Range Resources comprises 1.5% of Canoe Financial LP's portfolio, making the stock its 25th largest holding. Canoe Financial LP owned approximately 1.21% of Range Resources worth $104,595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RRC. Radnor Capital Management LLC increased its position in Range Resources by 156.2% during the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock worth $1,547,000 after buying an additional 26,213 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Range Resources in the 4th quarter valued at about $4,792,000. GAMMA Investing LLC increased its stake in shares of Range Resources by 36.4% during the 4th quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company's stock valued at $158,000 after acquiring an additional 1,172 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after acquiring an additional 463 shares during the period. Finally, JPMorgan Chase & Co. boosted 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 worth $48,588,000 after acquiring an additional 604,199 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Stock Down 0.5 %

NYSE RRC traded down $0.20 during trading hours on Friday, reaching $41.09. 2,676,241 shares of the company traded hands, compared to its average volume of 1,988,107. The company has a 50 day moving average of $35.62 and a two-hundred day moving average of $32.58. The stock has a market capitalization of $9.91 billion, a PE ratio of 20.75 and a beta of 1.81. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.65. 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 released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm's revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts expect that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources's payout ratio is 16.16%.

Insider Transactions at Range Resources

In related news, Director Charles G. Griffie bought 1,275 shares of the company's stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

RRC has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. StockNews.com upgraded Range Resources to a "sell" rating in a report on Wednesday, November 27th. Bank of America upgraded Range Resources from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Royal Bank of Canada reiterated a "sector perform" rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Finally, Truist Financial lifted their price target on shares of Range Resources from $31.00 to $35.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $37.16.

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.