Range Resources Co. (NYSE:RRC) Shares Bought by Mariner Investment Group LLC

Mariner Investment Group LLC grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,000 shares of the oil and gas exploration company’s stock after purchasing an additional 10,000 shares during the quarter. Range Resources makes up about 0.3% of Mariner Investment Group LLC’s investment portfolio, making the stock its 12th biggest position. Mariner Investment Group LLC’s holdings in Range Resources were worth $1,619,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KBC Group NV raised its stake in Range Resources by 44.3% during the fourth quarter. KBC Group NV now owns 9,659 shares of the oil and gas exploration company’s stock worth $348,000 after purchasing an additional 2,963 shares during the period. Blue Trust Inc. increased its holdings in shares of Range Resources by 152.1% during the 4th quarter. Blue Trust Inc. now owns 3,426 shares of the oil and gas exploration company’s stock worth $123,000 after buying an additional 2,067 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Range Resources in the 4th quarter worth $133,000. Geneos Wealth Management Inc. acquired a new position in Range Resources in the fourth quarter valued at $46,000. Finally, Red Door Wealth Management LLC purchased a new stake in Range Resources during the fourth quarter valued at about $252,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Down 1.0 %

NYSE RRC opened at $40.16 on Monday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 20.28 and a beta of 1.81. 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 Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company’s fifty day moving average price is $36.30 and its two-hundred day moving average price is $32.81.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.80%. Range Resources’s payout ratio is 16.16%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RRC. Stephens lifted their price objective on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler cut their target price on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Mizuho upped their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Friday, January 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.22.

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.