Man Group plc Acquires 78,002 Shares of Range Resources Co. (NYSE:RRC)

Man Group plc increased its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 69.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,956 shares of the oil and gas exploration company's stock after purchasing an additional 78,002 shares during the quarter. Man Group plc owned approximately 0.08% of Range Resources worth $6,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. CIBC Asset Management Inc grew its stake in shares of Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after purchasing an additional 378 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares in the last quarter. King Luther Capital Management Corp boosted its position in Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after acquiring an additional 390 shares in the last quarter. Arizona State Retirement System boosted its position in Range Resources by 0.6% during the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after acquiring an additional 395 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Range Resources by 0.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company's stock valued at $2,397,000 after acquiring an additional 420 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Range Resources

In other news, Director James M. Funk sold 13,582 shares of the business's 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 owns 54,394 shares of the company's stock, valued at $1,905,421.82. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $39.00, for a total transaction of $502,320.00. Following the sale, the vice president now directly owns 1,723 shares of the company's stock, valued at approximately $67,197. The trade was a 88.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,880 shares of company stock worth $2,815,807. Insiders own 1.00% of the company's stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $39.40 on Tuesday. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market cap of $9.42 billion, a P/E ratio of 19.90, a PEG ratio of 5.11 and a beta of 0.60. The company has a 50 day moving average of $36.59 and a 200 day moving average of $36.52. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

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

Range Resources Increases Dividend

The business also recently announced 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 was Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Range Resources's payout ratio is currently 32.14%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial lifted their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research report on Monday, March 17th. Mizuho lifted their price objective on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Roth Mkm raised Range Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. 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 report on Tuesday, April 22nd. Finally, Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Range Resources presently has a consensus rating of "Hold" and an average price target of $41.85.

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.

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