Amundi Buys 826,530 Shares of Range Resources Co. (NYSE:RRC)

Amundi boosted its holdings in shares of Range Resources Co. (NYSE:RRC) by 233.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,180,913 shares of the oil and gas exploration company’s stock after buying an additional 826,530 shares during the quarter. Amundi owned approximately 0.49% of Range Resources worth $44,308,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RRC. Nations Financial Group Inc. IA ADV grew its position in Range Resources by 64.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 16,430 shares of the oil and gas exploration company’s stock valued at $505,000 after buying an additional 6,430 shares during the period. Aptus Capital Advisors LLC grew its position in Range Resources by 135.5% during the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after buying an additional 64,443 shares during the period. Victory Capital Management Inc. grew its position in Range Resources by 32.5% during the third quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock valued at $2,025,000 after buying an additional 16,134 shares during the period. KBC Group NV grew its position in Range Resources by 11.5% during the third quarter. KBC Group NV now owns 6,696 shares of the oil and gas exploration company’s stock valued at $206,000 after buying an additional 688 shares during the period. Finally, Curi RMB Capital LLC grew its position in Range Resources by 16.1% during the third quarter. Curi RMB Capital LLC now owns 462,017 shares of the oil and gas exploration company’s stock valued at $14,212,000 after buying an additional 63,899 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Range Resources Price Performance

Range Resources stock opened at $37.63 on Thursday. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 5.11 and a beta of 1.80. The firm’s fifty day moving average is $38.23 and its 200 day moving average is $34.30. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95.

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 for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Sell-side analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.09 per share. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. Range Resources’s dividend payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

RRC has been the subject of several recent research reports. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Barclays set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. StockNews.com downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Truist Financial lifted their price target on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, UBS Group lifted their price target on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.11.

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.