Ingalls & Snyder LLC Has $28.45 Million Position in Range Resources Co. (NYSE:RRC)

Ingalls & Snyder LLC lowered its position in shares of Range Resources Co. (NYSE:RRC) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 790,625 shares of the oil and gas exploration company’s stock after selling 4,450 shares during the quarter. Range Resources accounts for about 1.1% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 19th biggest holding. Ingalls & Snyder LLC owned about 0.33% of Range Resources worth $28,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Range Resources in the third quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% in 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. Blue Trust Inc. boosted its holdings in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $46,000. Finally, Bogart Wealth LLC acquired a new position in shares of Range Resources in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RRC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Piper Sandler boosted their price objective on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group boosted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial boosted their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Barclays boosted their price objective on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average target price of $38.44.

Range Resources Stock Performance

NYSE RRC opened at $38.43 on Thursday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The firm has a market capitalization of $9.27 billion, a P/E ratio of 19.41 and a beta of 1.77. The firm’s fifty day moving average price is $36.99 and its two-hundred day moving average price is $33.24. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. Range Resources’s dividend payout ratio is currently 16.16%.

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.