Concentric Capital Strategies LP Makes New $3.22 Million Investment in Range Resources Co. (NYSE:RRC)

Concentric Capital Strategies LP purchased a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,478 shares of the oil and gas exploration company's stock, valued at approximately $3,219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RRC. Boston Partners grew its holdings in Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock worth $287,078,000 after acquiring an additional 371,777 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Range Resources by 9.3% in the fourth 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 purchasing an additional 624,955 shares during the last quarter. Lingotto Investment Management LLP increased its holdings in Range Resources by 2.5% in the fourth 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 purchasing an additional 165,242 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock worth $181,961,000 after purchasing an additional 2,104,304 shares during the last quarter. Finally, Canoe Financial LP lifted its holdings in 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 worth $104,595,000 after buying an additional 251,200 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Susquehanna cut their price objective on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Stephens reaffirmed an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a research note on Wednesday, April 23rd. Scotiabank downgraded shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Piper Sandler cut their price target on shares of Range Resources from $33.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised Range Resources from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $43.00 to $45.00 in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $41.50.

Range Resources Stock Up 3.1 %

RRC traded up $1.13 during midday trading on Friday, reaching $37.86. 1,921,371 shares of the company were exchanged, compared to its average volume of 2,459,305. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The company's fifty day moving average price is $36.20 and its 200 day moving average price is $36.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.63 earnings per share. As a group, analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.95%. Range Resources's payout ratio is 32.14%.

Insider Buying and Selling

In other Range Resources news, Director James M. Funk sold 13,582 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the completion of the transaction, the director now owns 54,394 shares in the company, valued at $1,905,421.82. This represents a 19.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.