Range Resources Co. (NYSE:RRC) is Requisite Capital Management LLC’s 10th Largest Position

Requisite Capital Management LLC cut its stake in shares of Range Resources Co. (NYSE:RRC) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,035 shares of the oil and gas exploration company’s stock after selling 34,724 shares during the quarter. Range Resources makes up approximately 2.0% of Requisite Capital Management LLC’s portfolio, making the stock its 10th biggest position. Requisite Capital Management LLC’s holdings in Range Resources were worth $9,752,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Range Resources during the 3rd quarter worth about $25,000. UMB Bank n.a. lifted its position in shares of Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the 4th quarter valued at $46,000. Blue Trust Inc. grew its position in shares of Range Resources by 107.8% in the 3rd 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 last quarter. Finally, Versant Capital Management Inc raised its stake in Range Resources by 42.8% during 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 acquiring an additional 463 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on RRC shares. 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 report on Friday, January 3rd. Mizuho increased their price objective on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. UBS Group upgraded shares of Range Resources from a “sell” rating to a “neutral” rating and upped their price target for the company from $28.00 to $35.00 in a research report on Monday, December 9th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Piper Sandler cut their price objective on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.22.

Range Resources Stock Performance

Shares of RRC stock opened at $40.16 on Friday. The company has a market cap of $9.69 billion, a P/E ratio of 20.28 and a beta of 1.81. Range Resources Co. has a 52 week low of $27.29 and a 52 week 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 business has a 50 day moving average of $36.30 and a two-hundred day moving average of $32.82.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. Range Resources’s dividend payout ratio is presently 16.16%.

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.