Janus Henderson Group PLC Raises Stock Position in Range Resources Co. (NYSE:RRC)

Janus Henderson Group PLC increased its stake in Range Resources Co. (NYSE:RRC - Free Report) by 237.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,286 shares of the oil and gas exploration company's stock after acquiring an additional 265,480 shares during the period. Janus Henderson Group PLC owned approximately 0.16% of Range Resources worth $13,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its holdings in Range Resources by 71.3% during the 4th 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 acquired a new position in shares of Range Resources during the fourth quarter worth about $33,684,000. Amundi increased its stake in shares of Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock worth $44,308,000 after buying an additional 826,530 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Range Resources by 9.3% during the fourth 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 holdings in Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after acquiring an additional 605,315 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of NYSE RRC traded down $0.25 during midday trading on Thursday, reaching $39.07. 334,230 shares of the company were exchanged, compared to its average volume of 2,465,480. The stock has a market cap of $9.34 billion, a P/E ratio of 19.74, a PEG ratio of 5.11 and a beta of 0.60. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The stock has a fifty day simple moving average of $36.66 and a 200 day simple moving average of $36.56. The company has a current ratio of 0.54, a quick 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 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 company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the business posted $0.63 EPS. On average, research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio (DPR) is 32.14%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley set a $41.00 price target on shares of Range Resources in a report on Tuesday, April 15th. Mizuho lifted their price objective on shares of Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Piper Sandler increased their target price on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Stephens restated an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a research note on Wednesday, April 23rd. Finally, Truist Financial lifted their price target on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned 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 has a consensus rating of "Hold" and an average price target of $41.85.

Insider Activity at Range Resources

In other news, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the transaction, the senior vice president now directly owns 13,800 shares of the company's stock, valued at approximately $560,556. This represents a 40.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the completion of the sale, the chief executive officer now owns 58,431 shares in the company, valued at approximately $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,880 shares of company stock worth $2,815,807 over the last 90 days. Company insiders own 1.00% of the company's stock.

Range Resources 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.