Range Resources Co. (NYSE:RRC) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC trimmed its holdings in shares of Range Resources Co. (NYSE:RRC) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,183 shares of the oil and gas exploration company’s stock after selling 31,347 shares during the period. Cannell & Spears LLC’s holdings in Range Resources were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in 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 worth $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. grew its holdings 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 purchasing an additional 426 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $46,000. Versant Capital Management Inc lifted its holdings in shares of Range Resources by 42.8% in the 4th 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 during the last quarter. Finally, Quent Capital LLC boosted its position in Range Resources by 72.0% during the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company’s stock valued at $78,000 after purchasing an additional 912 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Price Performance

NYSE RRC opened at $40.21 on Wednesday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The business’s fifty day moving average is $38.48 and its two-hundred day moving average is $35.37. The stock has a market capitalization of $9.70 billion, a P/E ratio of 20.31, a P/E/G ratio of 5.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last announced its earnings results 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. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the prior year, the business posted $0.63 earnings per share. On average, research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of recent research reports. Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Truist Financial boosted their target price on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, March 17th. UBS Group raised their price target 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. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Finally, Raymond James raised their target price on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.60.

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.