Royal London Asset Management Ltd. Has $24.14 Million Holdings in Range Resources Co. (NYSE:RRC)

Royal London Asset Management Ltd. cut its holdings in Range Resources Co. (NYSE:RRC) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 670,870 shares of the oil and gas exploration company’s stock after selling 1,084 shares during the period. Royal London Asset Management Ltd. owned approximately 0.28% of Range Resources worth $24,138,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Range Resources in the third quarter valued at about $25,000. Smartleaf Asset Management LLC grew its stake in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. grew its stake in 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 buying an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Range Resources during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc grew 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 worth $56,000 after buying an additional 463 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Down 1.1 %

Shares of NYSE RRC opened at $39.84 on Friday. The company has a 50 day simple moving average of $38.56 and a 200 day simple moving average of $34.73. The firm has a market cap of $9.61 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

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, topping 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 firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter last year, the business earned $0.63 EPS. On average, research analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This is a positive change 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 annualized dividend and a yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, March 17th. Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a research note on Friday, January 17th. Citigroup downgraded shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Mizuho raised their price target on shares of 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 given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Range Resources currently has an average rating of “Hold” and an average price target of $39.95.

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.