Range Resources Co. (NYSE:RRC) Stake Lessened by Securian Asset Management Inc.

Securian Asset Management Inc. cut its stake in Range Resources Co. (NYSE:RRC) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,242 shares of the oil and gas exploration company’s stock after selling 583 shares during the period. Securian Asset Management Inc.’s holdings in Range Resources were worth $656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Range Resources in the fourth quarter valued at approximately $380,000. HITE Hedge Asset Management LLC acquired a new stake in Range Resources during the third quarter valued at approximately $11,508,000. Calamos Advisors LLC acquired a new stake in Range Resources during the fourth quarter valued at approximately $567,000. Finally, Radnor Capital Management LLC lifted its stake 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 purchasing an additional 26,213 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on RRC shares. Mizuho increased their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. UBS Group increased their target price on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $45.00 in a research note on Monday, January 13th. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Finally, Piper Sandler increased their target price on shares of Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.84.

Range Resources Stock Up 2.3 %

RRC stock opened at $38.33 on Monday. Range Resources Co. has a 12-month low of $27.29 and a 12-month 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. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 5.11 and a beta of 1.80. The company has a 50 day moving average of $38.31 and a two-hundred day moving average of $34.45.

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

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Range Resources’s dividend payout ratio is 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.