Janus Henderson Group PLC Acquires 265,480 Shares of Range Resources Co. (NYSE:RRC)

Janus Henderson Group PLC lifted its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 237.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 377,286 shares of the oil and gas exploration company's stock after purchasing an additional 265,480 shares during the quarter. Janus Henderson Group PLC owned 0.16% of Range Resources worth $13,573,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. lifted its stake in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after purchasing an additional 426 shares during the last quarter. Headlands Technologies LLC bought a new stake in Range Resources in the fourth quarter worth $42,000. Geneos Wealth Management Inc. acquired a new position in Range Resources during the fourth quarter worth $46,000. Finally, Quent Capital LLC raised its holdings in 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 valued at $78,000 after buying an additional 912 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Up 0.7%

Shares of Range Resources stock traded up $0.29 during midday trading on Tuesday, reaching $39.72. The company had a trading volume of 2,200,345 shares, compared to its average volume of 2,483,620. The firm has a market cap of $9.49 billion, a PE ratio of 20.06, a P/E/G ratio of 5.11 and a beta of 0.60. The stock has a fifty day moving average price of $36.59 and a 200 day moving average price of $36.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95.

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, topping analysts' consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same quarter last year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is currently 32.14%.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction on Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the completion of the sale, the vice president now owns 1,723 shares of the company's stock, valued at approximately $67,197. This trade represents a 88.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the transaction, the director now directly owns 54,394 shares in the company, valued at approximately $1,905,421.82. This represents a 19.98% 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 corporate insiders.

Analyst Ratings Changes

RRC has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Range Resources from $32.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. UBS Group boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Williams Trading set a $40.00 price target on shares of Range Resources in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $42.00 target price on shares of Range Resources in a research note on Friday, April 11th. Finally, Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Range Resources currently has an average rating of "Hold" and a consensus 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.