7,104 Shares in Range Resources Co. (NYSE:RRC) Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. purchased a new position in shares of Range Resources Co. (NYSE:RRC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,104 shares of the oil and gas exploration company’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently added to or reduced their stakes in RRC. Brooklyn Investment Group acquired a new stake in Range Resources during the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its position in Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. lifted its position in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Range Resources during the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc lifted its position in Range Resources by 42.8% during 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 acquiring an additional 463 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE RRC opened at $35.27 on Monday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market capitalization of $8.51 billion, a P/E ratio of 17.81, a PEG ratio of 5.11 and a beta of 1.80. The business has a 50 day moving average price of $38.17 and a 200 day moving average price of $34.19. 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 for the quarter, topping the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter last year, the business posted $0.63 earnings per share. Sell-side analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given 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 is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 1.02%. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stephens increased their price objective on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group increased their price objective on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays set a $43.00 price target on Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. StockNews.com cut Range Resources from a “hold” rating to a “sell” rating in a report on Friday. Finally, Truist Financial raised 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. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.06.

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.