Amundi Purchases 826,530 Shares of Range Resources Co. (NYSE:RRC)

Amundi raised its position in shares of Range Resources Co. (NYSE:RRC) by 233.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,180,913 shares of the oil and gas exploration company’s stock after acquiring an additional 826,530 shares during the period. Amundi’s holdings in Range Resources were worth $44,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Range Resources in the third quarter worth about $25,000. Smartleaf Asset Management LLC grew its holdings in shares of Range Resources by 87.1% in the fourth 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. grew 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 worth $41,000 after purchasing an additional 426 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Range Resources in the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc grew its holdings in shares of Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RRC. UBS Group upped their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Truist Financial upped their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Wells Fargo & Company upped their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.11.

Range Resources Stock Performance

Shares of Range Resources stock opened at $37.63 on Thursday. The firm has a market capitalization of $9.08 billion, a P/E ratio of 19.00, a PEG ratio of 5.11 and a beta of 1.80. 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 company has a 50 day moving average price of $38.23 and a 200 day moving average price of $34.30. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during 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 last year, the firm posted $0.63 EPS. Sell-side analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.09 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Range Resources 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.