Castleark Management LLC Has $8.06 Million Stock Position in Range Resources Co. (NYSE:RRC)

Castleark Management LLC lifted its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 324.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 223,910 shares of the oil and gas exploration company's stock after acquiring an additional 171,130 shares during the quarter. Castleark Management LLC owned approximately 0.09% of Range Resources worth $8,056,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its position in Range Resources by 71.3% in the fourth 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 period. Wellington Management Group LLP bought a new position in shares of Range Resources in the 4th quarter valued at about $33,684,000. Amundi boosted its stake in shares of Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after purchasing an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 during the period. Finally, Northern Trust Corp raised its stake in shares of Range Resources by 37.1% during the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock worth $80,554,000 after buying an additional 605,315 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Performance

Shares of RRC opened at $39.72 on Wednesday. The firm has a market cap of $9.49 billion, a P/E ratio of 20.06, a PEG ratio of 5.11 and a beta of 0.60. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. 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 firm's 50 day moving average price is $36.64 and its two-hundred day moving average price is $36.55.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to analyst estimates 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 last year, the business posted $0.63 earnings per share. On average, analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.09 dividend. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

Insider Buying and Selling at Range Resources

In other news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total value of $475,777.46. Following the sale, the director now directly owns 54,394 shares in the company, valued at $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ashley Kavanaugh sold 12,880 shares of the business's stock in a transaction 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 sale, the vice president now directly owns 1,723 shares in the company, valued at approximately $67,197. This represents a 88.20% decrease in their position. 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 90 days. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RRC shares. StockNews.com lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday. Williams Trading set a $40.00 price target on Range Resources in a research note on Wednesday, March 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $42.00 price target on shares of Range Resources in a research report on Friday, April 11th. Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Finally, UBS Group increased their target price on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Range Resources currently has an average rating of "Hold" and an average target price of $41.85.

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.

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