Range Resources Co. (NYSE:RRC) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP increased its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 801,881 shares of the oil and gas exploration company's stock after purchasing an additional 14,819 shares during the quarter. First Trust Advisors LP owned 0.33% of Range Resources worth $28,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its position in Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after acquiring an additional 142,938 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Range Resources during the third quarter valued at approximately $205,000. Forthright Family Wealth Advisory LLC purchased a new position in Range Resources during the third quarter valued at approximately $445,000. JPMorgan Chase & Co. raised its position in Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Range Resources by 42.8% during 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 acquiring an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Down 0.5 %

Shares of Range Resources stock traded down $0.19 during trading hours on Tuesday, hitting $35.06. The company's stock had a trading volume of 2,587,527 shares, compared to its average volume of 2,452,965. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a fifty day moving average of $36.63 and a 200-day moving average of $35.81. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 5.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the prior year, the company posted $0.63 EPS. Research analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is currently 32.14%.

Analysts Set New Price Targets

RRC has been the subject of a number of recent analyst reports. Raymond James boosted their price objective on Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Truist Financial boosted their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research report on Monday, March 17th. Stephens restated an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a research report on Wednesday, April 23rd. Benchmark restated a "hold" rating on shares of Range Resources in a research report on Friday, January 17th. Finally, Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Range Resources presently has an average rating of "Hold" and an average target price of $41.50.

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.