Callan Family Office LLC Makes New $282,000 Investment in Range Resources Co. (NYSE:RRC)

Callan Family Office LLC bought a new stake in Range Resources Co. (NYSE:RRC) during the fourth quarter, HoldingsChannel reports. The firm bought 7,843 shares of the oil and gas exploration company’s stock, valued at approximately $282,000.

A number of other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Range Resources during the third quarter worth about $25,000. Smartleaf Asset Management LLC grew its position in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources during the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc increased its stake in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after acquiring an additional 463 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRC shares. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Piper Sandler lifted their price objective 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.11.

Range Resources Trading Up 3.7 %

Shares of RRC stock opened at $36.51 on Tuesday. The stock has a 50-day moving average of $38.17 and a 200-day moving average of $34.23. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 5.11 and a beta of 1.80. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

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

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is 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.