GF Fund Management CO. LTD. Buys New Stake in Range Resources Co. (NYSE:RRC)

GF Fund Management CO. LTD. acquired a new position in Range Resources Co. (NYSE:RRC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 73,514 shares of the oil and gas exploration company's stock, valued at approximately $2,645,000.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. increased its position in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Range Resources during the fourth quarter worth $42,000. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources during the fourth quarter worth $46,000. Finally, Quent Capital LLC increased its position in shares of Range Resources by 72.0% during the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after purchasing an additional 912 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays reduced their price target on Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Mizuho boosted their price objective on shares of Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Piper Sandler boosted their price objective on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. UBS Group boosted their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Stephens reissued an "overweight" rating and set a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $41.95.

Range Resources Price Performance

Shares of NYSE:RRC traded down $0.51 during trading on Wednesday, reaching $39.30. 2,691,955 shares of the company's stock traded hands, compared to its average volume of 2,471,380. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. 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 firm has a market cap of $9.39 billion, a PE ratio of 19.85, a P/E/G ratio of 5.11 and a beta of 0.60. The company has a 50-day simple moving average of $36.64 and a 200-day simple moving average of $36.81.

Range Resources (NYSE:RRC - Get Free Report) last issued 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 analysts' consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.09 dividend. 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. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is 32.14%.

Insiders Place Their Bets

In other Range Resources news, SVP Erin W. Mcdowell sold 9,568 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the transaction, the senior vice president now directly owns 13,800 shares of the company's stock, valued at $560,556. This trade represents a 40.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the transaction, the vice president now directly owns 1,723 shares in the company, valued at $67,197. This trade represents a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,880 shares of company stock valued at $2,815,807 in the last ninety days. 1.00% of the stock is currently 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.