Price T Rowe Associates Inc. MD Has $985.86 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

Price T Rowe Associates Inc. MD raised its stake in Range Resources Co. (NYSE:RRC) by 25.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,633,567 shares of the oil and gas exploration company’s stock after acquiring an additional 5,759,883 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.12% of Range Resources worth $985,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its holdings in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 666 shares in the last quarter. Delos Wealth Advisors LLC acquired a new position in shares of Range Resources during the 4th quarter worth $52,000. Private Wealth Management Group LLC acquired a new position in shares of Range Resources during the 4th quarter worth $73,000. SYSTM Wealth Solutions LLC raised its holdings in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after buying an additional 325 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Range Resources during the 4th quarter worth $81,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now owns 15,253 shares in the company, valued at approximately $589,986.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $37.78, for a total value of $3,815,780.00. Following the transaction, the chief executive officer now owns 198,154 shares in the company, valued at approximately $7,486,258.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now owns 15,253 shares in the company, valued at approximately $589,986.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,129 shares of company stock valued at $6,775,926. Corporate insiders own 1.57% of the company’s stock.

Range Resources Stock Up 0.6 %

RRC stock traded up $0.20 during trading on Friday, reaching $31.78. 2,286,720 shares of the stock were exchanged, compared to its average volume of 2,117,573. The firm’s 50 day moving average is $34.87 and its 200 day moving average is $33.58. Range Resources Co. has a twelve month low of $27.60 and a twelve month high of $39.33. The company has a current ratio of 0.58, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm has a market cap of $7.71 billion, a P/E ratio of 16.13 and a beta of 1.87.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. Range Resources’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, research analysts forecast that Range Resources Co. will post 2.06 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RRC shares. Stifel Nicolaus boosted their price target on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Mizuho upped their target price on Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday. Piper Sandler upped their target price on Range Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Truist Financial lowered their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 5th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average price target of $37.15.

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.