Range Resources Co. (NYSE:RRC) Stock Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Range Resources Co. (NYSE:RRC - Free Report) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,510 shares of the oil and gas exploration company's stock after selling 20,309 shares during the quarter. Victory Capital Management Inc.'s holdings in Range Resources were worth $1,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RRC. JPMorgan Chase & Co. increased its position 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 purchasing an additional 604,199 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Range Resources during the 3rd quarter valued at about $11,508,000. Verition Fund Management LLC grew its position in shares of Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company's stock valued at $12,594,000 after buying an additional 324,011 shares during the last quarter. Canoe Financial LP grew its position in shares of Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company's stock valued at $104,595,000 after buying an additional 251,200 shares during the last quarter. Finally, Lingotto Investment Management LLP grew its position in shares of Range Resources by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock valued at $246,968,000 after buying an additional 165,242 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

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Range Resources Price Performance

RRC stock traded down $0.44 on Friday, hitting $39.84. 3,211,568 shares of the company's stock traded hands, compared to its average volume of 2,293,323. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80. The stock has a fifty day moving average of $38.56 and a 200-day moving average of $34.73. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last released its 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 net margin of 17.63% and a return on equity of 13.69%. The business 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 business earned $0.63 earnings per share. On average, analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price objective 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. Wolfe Research upgraded shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price for the company in a research report on Friday, January 3rd. Wells Fargo & Company upped 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. Stephens upped their target price on shares of Range Resources from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, StockNews.com cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $39.95.

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.