Nomura Holdings Inc. Invests $1.15 Million in Range Resources Co. (NYSE:RRC)

Nomura Holdings Inc. purchased a new stake in Range Resources Co. (NYSE:RRC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,019 shares of the oil and gas exploration company's stock, valued at approximately $1,152,000.

A number of other large investors also recently bought and sold shares of RRC. Barclays PLC lifted its holdings in Range Resources by 180.8% in the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after acquiring an additional 142,938 shares during the period. Assenagon Asset Management S.A. acquired a new position in Range Resources in the fourth quarter valued at approximately $4,792,000. Diversify Wealth Management LLC lifted its holdings in Range Resources by 30.1% in the fourth quarter. Diversify Wealth Management LLC now owns 14,997 shares of the oil and gas exploration company's stock valued at $572,000 after acquiring an additional 3,466 shares during the period. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after acquiring an additional 426 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Range Resources by 0.6% in the fourth 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 during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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 on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value 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 $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,880 shares of company stock valued at $2,815,807 in the last three months. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler boosted their price target on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Mizuho upped their target price on Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. UBS Group upped their target price on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Roth Mkm raised Range Resources from a "neutral" rating to a "buy" rating and upped their target price for the stock from $41.00 to $42.00 in a research note on Tuesday, April 8th. Finally, Raymond James upped their target price on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $41.95.

Range Resources Price Performance

Shares of RRC traded up $0.09 during trading hours on Friday, hitting $39.50. 1,366,893 shares of the stock were exchanged, compared to its average volume of 2,470,276. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. The stock's 50-day moving average price is $36.67 and its two-hundred day moving average price is $36.71.

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 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $676.53 million. During the same period in the previous year, the business earned $0.63 earnings per share. Research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current 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 $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. Range Resources's dividend payout ratio (DPR) is 32.14%.

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.