Range Resources Co. (NYSE:RRC) Shares Acquired by Boston Partners

Boston Partners grew its holdings in Range Resources Co. (NYSE:RRC) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,976,052 shares of the oil and gas exploration company’s stock after acquiring an additional 371,777 shares during the quarter. Boston Partners owned 3.31% of Range Resources worth $287,078,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after purchasing an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Range Resources during the fourth quarter worth about $380,000. HITE Hedge Asset Management LLC purchased a new position in Range Resources during the third quarter valued at approximately $11,508,000. Calamos Advisors LLC purchased a new position in Range Resources during the fourth quarter valued at approximately $567,000. Finally, Radnor Capital Management LLC raised its position in Range Resources by 156.2% during the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after acquiring an additional 26,213 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on RRC shares. The Goldman Sachs Group lifted their price target on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. Mizuho boosted their price objective on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Piper Sandler boosted their price target on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, Williams Trading set a $40.00 price target on Range Resources in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.95.

Range Resources Price Performance

Shares of NYSE RRC opened at $38.88 on Tuesday. The stock’s 50-day moving average is $38.35 and its two-hundred day moving average is $34.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the prior year, the business earned $0.63 EPS. Analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is presently 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.