Range Resources Co. (NYSE:RRC) Holdings Lifted by Canoe Financial LP

Canoe Financial LP increased its holdings in Range Resources Co. (NYSE:RRC) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,911,509 shares of the oil and gas exploration company’s stock after acquiring an additional 251,200 shares during the period. Range Resources comprises about 1.5% of Canoe Financial LP’s holdings, making the stock its 25th largest holding. Canoe Financial LP owned approximately 1.21% of Range Resources worth $104,595,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Range Resources in the 3rd quarter valued at about $25,000. Blue Trust Inc. grew its position in Range Resources by 107.8% during 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 purchasing an additional 705 shares in the last quarter. Bogart Wealth LLC acquired a new position in Range Resources in the 3rd quarter valued at approximately $49,000. Versant Capital Management Inc lifted its position in Range Resources by 42.8% in the 4th 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. Finally, CWM LLC boosted its stake in shares of Range Resources by 276.8% during the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after buying an additional 1,694 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Down 0.5 %

Range Resources stock opened at $41.09 on Friday. The business’s 50-day simple moving average is $35.62 and its 200-day simple moving average is $32.59. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.65. The firm has a market capitalization of $9.91 billion, a PE ratio of 20.75 and a beta of 1.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Equities research analysts forecast that Range Resources Co. will post 2 earnings per share for the current 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 issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RRC. Stephens upped their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Truist Financial upped their target price on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, January 3rd. StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.16.

Insiders Place Their Bets

In other news, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

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.