Short Interest in Range Resources Co. (NYSE:RRC) Expands By 19.7%

Range Resources Co. (NYSE:RRC - Get Free Report) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 13,040,000 shares, a growth of 19.7% from the February 13th total of 10,890,000 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily volume of 2,690,000 shares, the short-interest ratio is currently 4.8 days.

Range Resources Stock Down 1.1 %

NYSE:RRC traded down $0.44 during mid-day trading on Friday, reaching $39.84. The company's stock had a trading volume of 3,211,568 shares, compared to its average volume of 2,296,168. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The stock has a fifty day moving average of $38.56 and a 200-day moving average of $34.77. The firm has a market capitalization of $9.61 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

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Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, March 14th. Range Resources's dividend payout ratio (DPR) is currently 32.73%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RRC shares. StockNews.com cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday. Wolfe Research upgraded shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research report on Friday, January 3rd. Royal Bank of Canada restated a "sector perform" rating and issued a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. UBS Group boosted their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Truist Financial boosted their price objective on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research report on Monday, March 17th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Range Resources presently has an average rating of "Hold" and a consensus price target of $39.95.

Institutional Trading of Range Resources

Institutional investors have recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock worth $332,000 after purchasing an additional 327 shares in the last quarter. Commerce Bank increased its position in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock worth $211,000 after purchasing an additional 369 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after purchasing an additional 378 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares during the period. Finally, King Luther Capital Management Corp increased its position in shares of Range Resources by 1.3% in the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after acquiring an additional 390 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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.