Manatuck Hill Partners LLC Cuts Stock Position in Range Resources Co. (NYSE:RRC)

Manatuck Hill Partners LLC lowered its stake in Range Resources Co. (NYSE:RRC - Free Report) by 68.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,400 shares of the oil and gas exploration company's stock after selling 20,600 shares during the quarter. Manatuck Hill Partners LLC's holdings in Range Resources were worth $338,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC increased its position in Range Resources by 180.8% during 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 last quarter. JPMorgan Chase & Co. lifted its stake in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after purchasing an additional 604,199 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after buying an additional 463 shares during the last quarter. GAMMA Investing LLC grew its position in Range Resources by 36.4% during the fourth quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company's stock valued at $158,000 after buying an additional 1,172 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Range Resources during the fourth quarter valued at approximately $4,792,000. Institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. StockNews.com upgraded shares of Range Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Susquehanna cut their price objective on Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Truist Financial lifted their price objective on shares of Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and upped their target price for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.50.

Range Resources Stock Performance

NYSE:RRC traded up $0.73 during trading hours on Wednesday, hitting $35.76. 399,228 shares of the company were exchanged, compared to its average volume of 2,452,436. The company's 50 day moving average price is $36.23 and its 200-day moving average price is $35.97. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 5.11 and a beta of 0.60. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. 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 (NYSE:RRC - Get Free Report) last posted its quarterly 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 business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts forecast 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. 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 represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio (DPR) is presently 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.