Commerce Bank Purchases 800 Shares of Range Resources Co. (NYSE:RRC)

Commerce Bank raised its position in shares of Range Resources Co. (NYSE:RRC) by 11.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,648 shares of the oil and gas exploration company’s stock after buying an additional 800 shares during the quarter. Commerce Bank’s holdings in Range Resources were worth $275,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Cramer Rosenthal Mcglynn LLC purchased a new position in shares of Range Resources in the fourth quarter valued at $16,659,000. Mariner LLC grew its stake in shares of Range Resources by 6.1% in the 4th quarter. Mariner LLC now owns 16,575 shares of the oil and gas exploration company’s stock worth $596,000 after buying an additional 960 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Range Resources by 12.8% in the 4th quarter. Townsquare Capital LLC now owns 88,477 shares of the oil and gas exploration company’s stock worth $3,183,000 after buying an additional 10,022 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Range Resources by 5.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 56,678 shares of the oil and gas exploration company’s stock valued at $2,039,000 after buying an additional 3,041 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Range Resources by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 14,051 shares of the oil and gas exploration company’s stock valued at $506,000 after acquiring an additional 5,012 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

RRC has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Roth Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Morgan Stanley set a $41.00 price objective on shares of Range Resources in a research note on Tuesday, April 15th. Piper Sandler reduced their target price on shares of Range Resources from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, UBS Group upped their price target on shares of Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

Range Resources Stock Down 0.5 %

Shares of Range Resources stock opened at $33.87 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 5.11 and a beta of 1.73. The firm’s 50-day moving average is $36.81 and its two-hundred day moving average is $35.70. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period last year, the firm earned $0.63 earnings per share. As a group, research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources’s payout ratio is presently 32.73%.

Range Resources Company 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.