Range Resources Co. (NYSE:RRC) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in Range Resources Co. (NYSE:RRC) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,370 shares of the oil and gas exploration company’s stock after acquiring an additional 13,491 shares during the quarter. Natixis Advisors LLC owned approximately 0.06% of Range Resources worth $5,158,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RRC. Victory Capital Management Inc. increased its holdings in shares of Range Resources by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock valued at $2,025,000 after acquiring an additional 16,134 shares during the period. Pathstone Holdings LLC increased its stake in Range Resources by 3.7% in the 3rd quarter. Pathstone Holdings LLC now owns 89,683 shares of the oil and gas exploration company’s stock valued at $2,759,000 after buying an additional 3,238 shares during the period. Commerce Bank increased its stake in Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after buying an additional 369 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after buying an additional 92,217 shares during the period. Finally, Citigroup Inc. increased its stake in Range Resources by 26.3% in the 3rd quarter. Citigroup Inc. now owns 247,160 shares of the oil and gas exploration company’s stock valued at $7,603,000 after buying an additional 51,544 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on RRC. Truist Financial boosted their price objective on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, March 17th. Barclays set a $43.00 price objective on shares of Range Resources and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Mizuho boosted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. Finally, Stephens upped their price target on shares of Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.95.

Range Resources Price Performance

Range Resources stock opened at $39.84 on Friday. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $38.56 and its 200 day simple moving average is $34.73. The firm has a market capitalization of $9.61 billion, a PE ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for 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 period in the prior year, the firm earned $0.63 EPS. On average, equities research analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio 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.