Oppenheimer & Co. Inc. Invests $986,000 in Range Resources Co. (NYSE:RRC)

Oppenheimer & Co. Inc. purchased a new position in Range Resources Co. (NYSE:RRC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,407 shares of the oil and gas exploration company’s stock, valued at approximately $986,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RRC. State of Alaska Department of Revenue raised its holdings in shares of Range Resources by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 28,086 shares of the oil and gas exploration company’s stock worth $863,000 after buying an additional 1,905 shares during the period. Van ECK Associates Corp raised its holdings in shares of Range Resources by 40.0% in the third quarter. Van ECK Associates Corp now owns 153,119 shares of the oil and gas exploration company’s stock worth $4,739,000 after buying an additional 43,753 shares during the period. Foster & Motley Inc. raised its holdings in shares of Range Resources by 18.8% in the third quarter. Foster & Motley Inc. now owns 23,205 shares of the oil and gas exploration company’s stock worth $714,000 after buying an additional 3,665 shares during the period. Hara Capital LLC bought a new position in Range Resources in the third quarter worth approximately $92,000. Finally, Easterly Investment Partners LLC grew its stake in Range Resources by 9.2% in the third quarter. Easterly Investment Partners LLC now owns 120,559 shares of the oil and gas exploration company’s stock worth $3,708,000 after purchasing an additional 10,160 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on RRC. Citigroup increased their price objective on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Piper Sandler increased their price objective on Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Truist Financial increased their price objective on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Mizuho increased their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Stephens increased their price objective on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.00.

Range Resources Stock Up 3.0 %

Range Resources stock opened at $37.91 on Wednesday. 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 capitalization of $9.15 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 5.11 and a beta of 1.77. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The business has a fifty day moving average price of $38.08 and a 200-day moving average price of $34.08.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations 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 firm earned $0.63 EPS. Equities research analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is presently 29.09%.

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.