Crestline Management LP Increases Stock Holdings in Range Resources Co. (NYSE:RRC)

Crestline Management LP lifted its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 290.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,191 shares of the oil and gas exploration company's stock after purchasing an additional 27,657 shares during the quarter. Crestline Management LP's holdings in Range Resources were worth $1,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RRC. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Range Resources by 71.3% during the fourth 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 purchasing an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Range Resources in the fourth quarter worth approximately $33,684,000. Amundi boosted its holdings in Range Resources by 233.2% in the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock worth $44,308,000 after purchasing an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Range Resources by 9.3% in 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 during the last quarter. Finally, Northern Trust Corp lifted its holdings in Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after acquiring an additional 605,315 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Range Resources

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

Range Resources Stock Up 2.9%

RRC traded up $1.11 on Monday, hitting $38.97. The company had a trading volume of 5,190,571 shares, compared to its average volume of 2,470,230. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The stock has a fifty day moving average price of $36.20 and a 200-day moving average price of $36.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 5.11 and a beta of 0.60.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.63 earnings per share. Analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal 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 paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is 32.14%.

Analyst Ratings Changes

RRC has been the subject of a number of research reports. Susquehanna reduced their target price on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. UBS Group boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Monday, March 17th. StockNews.com raised Range Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $42.00 price objective 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.50.

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.