Royal London Asset Management Ltd. Has $24.14 Million Stake in Range Resources Co. (NYSE:RRC)

Royal London Asset Management Ltd. decreased its stake in shares of Range Resources Co. (NYSE:RRC) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 670,870 shares of the oil and gas exploration company’s stock after selling 1,084 shares during the period. Royal London Asset Management Ltd.’s holdings in Range Resources were worth $24,138,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after buying an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $380,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources during the 3rd quarter worth approximately $11,508,000. Calamos Advisors LLC acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $567,000. Finally, Radnor Capital Management LLC grew its position in Range Resources by 156.2% in the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after purchasing an additional 26,213 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

RRC has been the subject of several research reports. Truist Financial lifted their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, March 17th. Citigroup downgraded shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. UBS Group lifted their price target on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Stephens lifted their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.95.

Range Resources Trading Down 1.1 %

NYSE RRC opened at $39.84 on Friday. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 5.11 and a beta of 1.80. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The business’s fifty day moving average is $38.56 and its 200-day moving average is $34.73.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the previous year, the business posted $0.63 EPS. Equities research analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

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