Calamos Advisors LLC Makes New Investment in Range Resources Co. (NYSE:RRC)

Calamos Advisors LLC purchased a new stake in Range Resources Co. (NYSE:RRC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 15,756 shares of the oil and gas exploration company’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRC. Brooklyn Investment Group bought a new stake in Range Resources in the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its holdings in Range Resources by 59.0% in 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 buying an additional 426 shares in the last quarter. Blue Trust Inc. increased its position in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares during the period. Geneos Wealth Management Inc. bought a new stake in Range Resources during the 4th quarter valued at $46,000. Finally, Bogart Wealth LLC acquired a new position in Range Resources during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

RRC stock opened at $38.92 on Thursday. The firm has a 50 day simple moving average of $36.66 and a 200 day simple moving average of $33.03. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The stock has a market cap of $9.39 billion, a P/E ratio of 19.66 and a beta of 1.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RRC shares. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Barclays upped their price target on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Piper Sandler increased their price objective on shares of Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Finally, Wells Fargo & Company increased their price target on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Range Resources has an average rating of “Hold” and an average target price of $38.00.

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.