Schroder Investment Management Group Sells 6,570 Shares of Range Resources Co. (NYSE:RRC)

Schroder Investment Management Group reduced its stake in shares of Range Resources Co. (NYSE:RRC) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,727 shares of the oil and gas exploration company’s stock after selling 6,570 shares during the period. Schroder Investment Management Group’s holdings in Range Resources were worth $5,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Amundi grew its stake in Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after buying an additional 826,530 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Range Resources by 61.9% in the third 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 last quarter. Telemark Asset Management LLC bought a new position in shares of Range Resources in the fourth quarter worth about $14,392,000. Boston Partners increased its stake in shares of Range Resources by 4.9% in the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after purchasing an additional 371,777 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Range Resources during the 4th quarter valued at approximately $13,088,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

RRC has been the topic of several recent analyst reports. Piper Sandler lifted their price target on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. The Goldman Sachs Group increased their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $41.60.

Range Resources Stock Down 12.0 %

RRC opened at $33.51 on Friday. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. The firm’s 50-day simple moving average is $38.29 and its 200-day simple moving average is $35.50. 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 posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.63 earnings per share. Equities research analysts anticipate that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 1.07%. Range Resources’s payout ratio is presently 32.73%.

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.