Swiss National Bank Increases Position in Range Resources Co. (NYSE:RRC)

Swiss National Bank raised its holdings in shares of Range Resources Co. (NYSE:RRC) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 476,200 shares of the oil and gas exploration company’s stock after buying an additional 2,600 shares during the period. Swiss National Bank’s holdings in Range Resources were worth $17,134,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Range Resources during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its position in shares of Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 471 shares during the period. UMB Bank n.a. boosted its position in shares of Range Resources by 59.0% during 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 buying an additional 426 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc grew its stake in Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC opened at $39.62 on Wednesday. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The stock has a fifty day moving average price of $38.41 and a 200-day moving average price of $34.58. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.56 billion, a PE ratio of 20.01, a P/E/G ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating 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 firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the prior year, the business posted $0.63 EPS. Equities research analysts predict that Range Resources Co. will post 2.02 earnings per share 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RRC. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a research note on Friday, January 17th. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Friday, January 3rd. Truist Financial increased their price objective on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Barclays set a $43.00 price objective on Range Resources and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.95.

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.