Oarsman Capital Inc. Sells 450 Shares of Range Resources Co. (NYSE:RRC)

Oarsman Capital Inc. decreased its position in shares of Range Resources Co. (NYSE:RRC) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,475 shares of the oil and gas exploration company’s stock after selling 450 shares during the period. Oarsman Capital Inc.’s holdings in Range Resources were worth $269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RRC. Smartleaf Asset Management LLC raised its stake in Range Resources by 87.1% in 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 purchasing an additional 471 shares in the last quarter. UMB Bank n.a. raised its position in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Range Resources in the fourth quarter valued at approximately $42,000. Geneos Wealth Management Inc. acquired a new stake in Range Resources during the fourth quarter worth approximately $46,000. Finally, Versant Capital Management Inc increased its stake 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. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Raymond James upped their price objective on shares of Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Morgan Stanley upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $40.00 to $49.00 in a research note on Wednesday, March 26th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, January 3rd. Finally, StockNews.com upgraded shares of Range Resources from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and an average target price of $41.60.

Range Resources Stock Performance

Shares of RRC stock opened at $33.51 on Friday. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $38.29 and its 200-day moving average price is $35.50. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 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 business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the company earned $0.63 EPS. Equities research analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Range Resources’s payout ratio is currently 32.73%.

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.