Range Resources Co. (NYSE:RRC) Shares Purchased by Lingotto Investment Management LLP

Lingotto Investment Management LLP raised its holdings in Range Resources Co. (NYSE:RRC) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,864,038 shares of the oil and gas exploration company’s stock after purchasing an additional 165,242 shares during the period. Range Resources comprises approximately 6.6% of Lingotto Investment Management LLP’s holdings, making the stock its 4th largest holding. Lingotto Investment Management LLP’s holdings in Range Resources were worth $246,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RRC. Brooklyn Investment Group bought a new position in Range Resources during the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its position in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Range Resources in the fourth quarter worth about $46,000. Blue Trust Inc. increased its holdings in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake 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 buying an additional 463 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of RRC opened at $37.53 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company’s fifty day moving average is $37.71 and its 200-day moving average is $33.83.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the company earned $0.63 earnings per share. Equities analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.85%. Range Resources’s dividend payout ratio is 16.16%.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of research analyst reports. Truist Financial boosted their price target on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Barclays increased their target price on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Stephens lifted their price target on shares of Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Piper Sandler increased their price objective on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Mizuho lifted their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $38.78.

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.