Meiji Yasuda Asset Management Co Ltd. Takes $212,000 Position in Range Resources Co. (NYSE:RRC)

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Range Resources Co. (NYSE:RRC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,889 shares of the oil and gas exploration company’s stock, valued at approximately $212,000.

Several other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in Range Resources during the third quarter worth $25,000. Smartleaf Asset Management LLC boosted its position in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. grew its stake in 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 purchasing an additional 426 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Range Resources in the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc lifted its position 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 buying an additional 463 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RRC shares. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Barclays set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Mizuho raised their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Truist Financial upped their target price on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, March 17th. Finally, Citigroup downgraded Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.89.

Range Resources Trading Up 1.0 %

Shares of Range Resources stock opened at $39.19 on Friday. The stock has a market cap of $9.46 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The firm has a fifty day moving average price of $38.52 and a 200 day moving average price of $35.12. Range Resources Co. has a 1 year low of $27.29 and a 1 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.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million during 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 quarter in the previous year, the firm posted $0.63 EPS. Equities research analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.09 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. Range Resources’s dividend payout ratio (DPR) is presently 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.