Campbell & CO Investment Adviser LLC Acquires 107,422 Shares of Range Resources Corporation $RRC

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Range Resources Corporation by 1,224.2%, bringing its total holdings to 116,197 shares valued at approximately $4.64 million.
• Range Resources reported earnings of $0.66 per share for the last quarter, surpassing the consensus estimate of $0.65, with revenue hitting $856.28 million compared to expectations of $708.38 million.
• The company has declared a quarterly dividend of $0.09 per share, representing an annualized yield of 1.1%, with a dividend payout ratio of 18.09%.

Campbell & CO Investment Adviser LLC boosted its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 1,224.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,197 shares of the oil and gas exploration company's stock after purchasing an additional 107,422 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Range Resources were worth $4,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in Range Resources in the first quarter valued at approximately $33,000. Bessemer Group Inc. raised its stake in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Range Resources in the first quarter valued at approximately $39,000. Fifth Third Bancorp raised its stake in Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Range Resources by 124.9% in the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after purchasing an additional 1,434 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler decreased their price target on shares of Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Mizuho lifted their price target on shares of Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Bank of America lifted their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Susquehanna lifted their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Range Resources presently has an average rating of "Hold" and a consensus price target of $42.75.

Range Resources Trading Down 0.1%

NYSE:RRC traded down $0.02 during trading hours on Friday, hitting $34.42. The company had a trading volume of 633,087 shares, compared to its average volume of 2,848,535. The company has a market capitalization of $8.20 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 0.28 and a beta of 0.60. The stock has a 50-day moving average price of $36.68 and a 200 day moving average price of $37.31. Range Resources Corporation has a 52 week low of $27.55 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, equities research analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is currently 18.09%.

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.