KBC Group NV Buys 2,963 Shares of Range Resources Co. (NYSE:RRC)

KBC Group NV boosted its position in Range Resources Co. (NYSE:RRC) by 44.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,659 shares of the oil and gas exploration company’s stock after buying an additional 2,963 shares during the period. KBC Group NV’s holdings in Range Resources were worth $348,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC acquired a new position in shares of Range Resources during the second quarter worth approximately $818,000. Creative Planning increased its position in shares of Range Resources by 5.3% during the second quarter. Creative Planning now owns 55,655 shares of the oil and gas exploration company’s stock worth $1,866,000 after acquiring an additional 2,792 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Range Resources in the 2nd quarter worth about $486,000. SG Americas Securities LLC lifted its position in Range Resources by 853.0% in the 3rd quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company’s stock valued at $6,106,000 after acquiring an additional 177,689 shares in the last quarter. Finally, CWM LLC boosted its stake in Range Resources by 276.8% during the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 1,694 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RRC has been the subject of several analyst reports. Citigroup increased their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Barclays lifted their price target on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Stephens boosted their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Piper Sandler raised their price objective on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average target price of $38.00.

Range Resources Price Performance

Shares of NYSE:RRC opened at $36.97 on Monday. The company has a 50 day moving average of $36.54 and a 200 day moving average of $32.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market cap of $8.92 billion, a P/E ratio of 18.67 and a beta of 1.81. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. Range Resources’s payout ratio is currently 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.