Bayesian Capital Management LP Buys New Shares in Range Resources Co. (NYSE:RRC)

Bayesian Capital Management LP purchased a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 34,407 shares of the oil and gas exploration company's stock, valued at approximately $1,238,000.

Other large investors have also recently bought and sold shares of the company. Boston Partners grew its stake in Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock worth $287,078,000 after purchasing an additional 371,777 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after buying an additional 624,955 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Range Resources by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock valued at $246,968,000 after acquiring an additional 165,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after acquiring an additional 2,104,304 shares in the last quarter. Finally, Canoe Financial LP lifted its position in shares of Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company's stock valued at $104,595,000 after acquiring an additional 251,200 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RRC shares. Susquehanna dropped their price objective on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Barclays cut their price target on Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. StockNews.com upgraded Range Resources from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Benchmark reiterated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $42.00 price target on shares of Range Resources in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Range Resources currently has a consensus rating of "Hold" and a consensus target price of $41.50.

Range Resources Price Performance

Shares of NYSE RRC opened at $34.96 on Monday. The company has a market capitalization of $8.35 billion, a PE ratio of 17.66, a PEG ratio of 5.11 and a beta of 0.60. 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 stock's 50 day moving average price is $36.32 and its 200-day moving average price is $35.94. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The business 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 quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This is a positive change 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 annualized dividend and a yield of 1.03%. Range Resources's payout ratio is currently 32.14%.

Range Resources Company 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.

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