MetLife Investment Management LLC Grows Position in Range Resources Co. (NYSE:RRC)

MetLife Investment Management LLC increased its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,955 shares of the oil and gas exploration company's stock after acquiring an additional 10,920 shares during the period. MetLife Investment Management LLC owned about 0.06% of Range Resources worth $4,892,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Curi RMB Capital LLC boosted its stake in shares of Range Resources by 0.8% during the 4th quarter. Curi RMB Capital LLC now owns 465,579 shares of the oil and gas exploration company's stock worth $16,752,000 after acquiring an additional 3,562 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Range Resources by 9.3% in the 4th 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 purchasing an additional 624,955 shares during the period. First Trust Advisors LP boosted its position in Range Resources by 1.9% during the fourth quarter. First Trust Advisors LP now owns 801,881 shares of the oil and gas exploration company's stock worth $28,852,000 after purchasing an additional 14,819 shares in the last quarter. Forum Financial Management LP grew its holdings in Range Resources by 19.1% in the fourth quarter. Forum Financial Management LP now owns 8,046 shares of the oil and gas exploration company's stock valued at $289,000 after purchasing an additional 1,293 shares during the period. Finally, Commerce Bank increased its position in shares of Range Resources by 11.7% in the fourth quarter. Commerce Bank now owns 7,648 shares of the oil and gas exploration company's stock valued at $275,000 after buying an additional 800 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Down 3.4 %

Shares of RRC traded down $1.19 during mid-day trading on Wednesday, reaching $33.91. The stock had a trading volume of 2,959,528 shares, compared to its average volume of 2,455,922. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The business's fifty day moving average is $36.45 and its 200 day moving average is $35.79. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the prior year, the company posted $0.63 EPS. On average, sell-side analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's payout ratio is 32.14%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RRC. Stephens reissued an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a research note on Wednesday, April 23rd. Raymond James lifted their target price on shares of Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price target for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. Piper Sandler decreased their price target on shares of Range Resources from $33.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group boosted their price objective on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $41.50.

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.