NFC Investments LLC Acquires Shares of 149,507 Range Resources Co. (NYSE:RRC)

NFC Investments LLC acquired a new stake in shares of Range Resources Co. (NYSE:RRC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 149,507 shares of the oil and gas exploration company’s stock, valued at approximately $5,379,000. Range Resources accounts for 1.5% of NFC Investments LLC’s portfolio, making the stock its 19th largest holding. NFC Investments LLC owned approximately 0.06% of Range Resources at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Lingotto Investment Management LLP lifted its stake in 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 valued at $246,968,000 after acquiring an additional 165,242 shares during the period. Geode Capital Management LLC lifted its stake in Range Resources by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after acquiring an additional 35,344 shares during the period. Canoe Financial LP lifted its stake in 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 valued at $104,595,000 after acquiring an additional 251,200 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Range Resources by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company’s stock valued at $76,011,000 after acquiring an additional 94,898 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Range Resources by 61.9% in the 3rd 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 purchasing an additional 604,199 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

Range Resources stock opened at $38.33 on Monday. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The firm has a market capitalization 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 fifty day simple moving average of $38.31 and a 200-day simple moving average of $34.45. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

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

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Williams Trading set a $40.00 target price on shares of Range Resources in a research note on Wednesday, March 5th. Scotiabank cut 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. StockNews.com cut shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Mizuho boosted 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. Finally, Piper Sandler boosted 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 research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.84.

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.