Cannell & Spears LLC Sells 31,347 Shares of Range Resources Co. (NYSE:RRC)

Cannell & Spears LLC reduced its position in Range Resources Co. (NYSE:RRC - Free Report) by 70.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,183 shares of the oil and gas exploration company's stock after selling 31,347 shares during the period. Cannell & Spears LLC's holdings in Range Resources were worth $474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after buying an additional 604,199 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at about $380,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources in the third quarter valued at approximately $11,508,000. Calamos Advisors LLC purchased a new position in shares of Range Resources during the 4th quarter worth approximately $567,000. Finally, Radnor Capital Management LLC raised its position in shares of Range Resources by 156.2% during the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock worth $1,547,000 after purchasing an additional 26,213 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RRC. Royal Bank of Canada reissued a "sector perform" rating and issued a $40.00 target price on shares of Range Resources in a research note on Tuesday, January 14th. Wells Fargo & Company raised their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Citigroup cut Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Piper Sandler upped their target price on Range Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Finally, Benchmark reissued a "hold" rating on shares of Range Resources in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and a consensus price target of $41.60.

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Range Resources Stock Performance

Range Resources stock traded down $4.57 during midday trading on Friday, reaching $33.51. 5,937,848 shares of the stock traded hands, compared to its average volume of 2,373,464. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a fifty day moving average price of $38.29 and a two-hundred day moving average price of $35.50.

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 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations 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 previous year, the company posted $0.63 EPS. On average, equities research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's payout ratio is presently 32.73%.

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.