Geode Capital Management LLC Decreases Stock Holdings in Range Resources Co. (NYSE:RRC)

Geode Capital Management LLC trimmed its position in Range Resources Co. (NYSE:RRC - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,983,650 shares of the oil and gas exploration company's stock after selling 19,649 shares during the quarter. Geode Capital Management LLC owned 1.65% of Range Resources worth $143,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. grew its stake 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 worth $41,000 after purchasing an additional 426 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Range Resources during the 4th quarter valued at about $46,000. Versant Capital Management Inc raised its position in 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 valued at $56,000 after purchasing an additional 463 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in Range Resources by 72.0% in the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after buying an additional 912 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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Range Resources Stock Up 3.3 %

RRC stock traded up $1.06 during trading on Friday, hitting $33.31. 3,499,772 shares of the stock traded hands, compared to its average volume of 2,426,979. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The firm's 50 day moving average is $37.70 and its two-hundred day moving average is $35.58.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, sell-side analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.09 dividend. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. Range Resources's dividend payout ratio (DPR) is presently 32.73%.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of recent analyst reports. Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Morgan Stanley raised shares of Range Resources from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $40.00 to $49.00 in a research report on Wednesday, March 26th. Piper Sandler raised their target price on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Wolfe Research raised shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $41.81.

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.