Range Resources Co. (NYSE:RRC) Holdings Lifted by Lesa Sroufe & Co

Lesa Sroufe & Co lifted its holdings in Range Resources Co. (NYSE:RRC) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 131,850 shares of the oil and gas exploration company’s stock after acquiring an additional 3,363 shares during the quarter. Range Resources accounts for about 4.1% of Lesa Sroufe & Co’s holdings, making the stock its 3rd biggest holding. Lesa Sroufe & Co owned approximately 0.05% of Range Resources worth $4,014,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in Range Resources by 970.0% during the 3rd quarter. National Bank of Canada FI now owns 3,210 shares of the oil and gas exploration company’s stock valued at $98,000 after acquiring an additional 2,910 shares during the period. SG Americas Securities LLC lifted its position in Range Resources by 90.2% in the third quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock valued at $257,000 after purchasing an additional 3,766 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Range Resources during the third quarter valued at approximately $128,000. Private Wealth Advisors LLC bought a new position in shares of Range Resources in the third quarter worth approximately $2,264,000. Finally, Proffitt & Goodson Inc. purchased a new position in shares of Range Resources in the third quarter worth $32,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho reissued a “buy” rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Morgan Stanley boosted their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Piper Sandler increased their price objective on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Finally, Susquehanna raised their price target on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.00.

Range Resources Stock Performance

Shares of RRC opened at $36.59 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.86 billion, a P/E ratio of 10.33 and a beta of 1.83. The business’s 50 day moving average price is $33.34 and its 200-day moving average price is $32.33. Range Resources Co. has a 52 week low of $23.92 and a 52 week high of $37.88.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. Equities research analysts anticipate that Range Resources Co. will post 1.9 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. Range Resources’s dividend payout ratio is currently 9.04%.

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.