Range Resources Co. (NYSE:RRC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in Range Resources Co. (NYSE:RRC) by 15.9% during the 4th quarter, Holdings Channel reports. The firm owned 37,069 shares of the oil and gas exploration company’s stock after selling 7,006 shares during the quarter. Bank of Montreal Can’s holdings in Range Resources were worth $1,334,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake in Range Resources by 11.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 106,034 shares of the oil and gas exploration company’s stock valued at $3,815,000 after buying an additional 11,254 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Range Resources by 17.1% in the 4th quarter. Wells Fargo & Company MN now owns 151,050 shares of the oil and gas exploration company’s stock valued at $5,435,000 after purchasing an additional 22,013 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Range Resources during the 4th quarter worth about $42,000. Franklin Resources Inc. grew its holdings in shares of Range Resources by 141.7% during the fourth quarter. Franklin Resources Inc. now owns 29,661 shares of the oil and gas exploration company’s stock worth $1,067,000 after buying an additional 17,388 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $33,684,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RRC shares. StockNews.com downgraded Range Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price target on shares of Range Resources in a report on Friday, April 11th. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Williams Trading set a $40.00 price target on shares of Range Resources in a research report on Wednesday, March 5th. Finally, Piper Sandler boosted their price objective on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.43.

Range Resources Stock Up 0.1 %

Shares of NYSE:RRC opened at $34.14 on Friday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company’s fifty day moving average is $37.33 and its two-hundred day moving average is $35.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company 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 previous year, the firm posted $0.63 earnings per share. Equities analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.09 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.05%. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

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.