Range Resources Co. (NYSE:RRC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in shares of Range Resources Co. (NYSE:RRC) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,014,056 shares of the oil and gas exploration company’s stock after selling 88,326 shares during the quarter. Fisher Asset Management LLC owned 0.42% of Range Resources worth $36,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RRC. JPMorgan Chase & Co. grew its stake in shares of Range Resources by 61.9% during the 3rd 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. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources during the 3rd quarter worth approximately $11,508,000. Verition Fund Management LLC grew its stake in shares of Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock worth $12,594,000 after purchasing an additional 324,011 shares during the period. Canoe Financial LP grew its stake in shares of Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after purchasing an additional 251,200 shares during the period. Finally, Lingotto Investment Management LLP grew its stake in shares of Range Resources by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after purchasing an additional 165,242 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 2.0 %

Shares of RRC stock opened at $37.11 on Monday. The company’s 50-day moving average price is $37.97 and its 200-day moving average price is $33.98. 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 stock has a market cap of $8.96 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 5.11 and a beta of 1.77. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95.

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

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Range Resources’s payout ratio is presently 29.09%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RRC. The Goldman Sachs Group raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. UBS Group increased their target price on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $39.00.

Range Resources Company 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.