Northern Trust Corp Has $80.55 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

Northern Trust Corp grew its position in Range Resources Co. (NYSE:RRC - Free Report) by 37.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,238,863 shares of the oil and gas exploration company's stock after buying an additional 605,315 shares during the period. Northern Trust Corp owned 0.93% of Range Resources worth $80,554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners raised its holdings in Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock worth $287,078,000 after purchasing an additional 371,777 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Range Resources by 9.3% during 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 buying an additional 624,955 shares during the period. Lingotto Investment Management LLP raised its stake in shares of Range Resources by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock worth $246,968,000 after buying an additional 165,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after buying an additional 2,104,304 shares during the period. Finally, Canoe Financial LP boosted its stake in Range Resources by 9.4% in the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company's stock valued at $104,595,000 after acquiring an additional 251,200 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

NYSE RRC opened at $34.96 on Monday. The firm's 50 day moving average is $36.32 and its 200-day moving average is $35.94. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $8.35 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $676.53 million. During the same quarter last year, the company earned $0.63 EPS. Equities research analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current fiscal 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 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 1.03%. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is currently 32.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RRC. UBS Group increased their price target on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Scotiabank cut Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Susquehanna lowered their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup lowered shares of Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and an average price target of $41.50.

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.

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