Stifel Financial Corp Buys 87,716 Shares of Range Resources Co. (NYSE:RRC)

Stifel Financial Corp grew its stake in shares of Range Resources Co. (NYSE:RRC) by 121.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,701 shares of the oil and gas exploration company’s stock after buying an additional 87,716 shares during the period. Stifel Financial Corp owned 0.07% of Range Resources worth $5,746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RRC. Smartleaf Asset Management LLC boosted its holdings 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 buying an additional 471 shares during the period. UMB Bank n.a. lifted 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 acquiring an additional 426 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Range Resources in the fourth quarter worth about $42,000. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc raised 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 valued at $56,000 after purchasing an additional 463 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com upgraded Range Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Truist Financial increased their target price on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, March 17th. Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. UBS Group increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised shares of Range Resources from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Range Resources Stock Down 0.5 %

Shares of NYSE:RRC opened at $35.06 on Wednesday. The business’s 50 day moving average is $36.54 and its 200 day moving average is $35.81. The stock has a market cap of $8.38 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for 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 in the prior year, the company earned $0.63 EPS. Sell-side analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s payout ratio is currently 32.14%.

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.