Renaissance Technologies LLC Has $5.95 Million Stake in Range Resources Co. (NYSE:RRC)

Renaissance Technologies LLC trimmed its position in Range Resources Co. (NYSE:RRC - Free Report) by 70.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,416 shares of the oil and gas exploration company's stock after selling 386,150 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Range Resources worth $5,952,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC lifted its stake in Range Resources by 23.2% during the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after purchasing an additional 21,440 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Range Resources by 61.9% in 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 acquiring an additional 604,199 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Range Resources during the fourth quarter worth $380,000. Calamos Advisors LLC purchased a new position in Range Resources in the 4th quarter worth about $567,000. Finally, Radnor Capital Management LLC raised its holdings in 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 buying an additional 26,213 shares during the period. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RRC shares. Piper Sandler upped their price target on shares of Range Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Barclays set a $43.00 price target on Range Resources and gave the company an "equal weight" rating in a report on Thursday, February 27th. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $43.00 to $45.00 in a research report on Thursday, March 13th. Finally, Citigroup downgraded shares of Range Resources from a "neutral" rating to a "reduce" rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $41.43.

Range Resources Price Performance

Shares of RRC stock traded down $1.52 during mid-day trading on Monday, reaching $32.66. The company's stock had a trading volume of 3,455,385 shares, compared to its average volume of 2,448,967. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm's 50-day moving average is $37.11 and its two-hundred day moving average is $35.71. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $7.88 billion, a P/E ratio of 16.49, a PEG ratio of 5.11 and a beta of 1.73.

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, 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 firm had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. During the same quarter last year, the company earned $0.63 earnings per share. On average, research analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is currently 32.73%.

About Range Resources

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.