Sagefield Capital LP Raises Holdings in Range Resources Co. (NYSE:RRC)

Sagefield Capital LP raised its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,312,689 shares of the oil and gas exploration company's stock after purchasing an additional 233,906 shares during the quarter. Range Resources accounts for about 5.2% of Sagefield Capital LP's holdings, making the stock its 5th biggest position. Sagefield Capital LP owned approximately 0.54% of Range Resources worth $47,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in 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 buying an additional 471 shares in the last quarter. UMB Bank n.a. raised its holdings 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 worth $41,000 after purchasing an additional 426 shares during the period. Headlands Technologies LLC acquired a new position in shares of Range Resources in the 4th quarter valued at about $42,000. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the 4th quarter worth about $46,000. Finally, Quent Capital LLC grew its holdings in shares of Range Resources by 72.0% during the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after purchasing an additional 912 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Performance

Shares of RRC traded up $0.32 during mid-day trading on Thursday, reaching $39.64. 798,389 shares of the company's stock traded hands, compared to its average volume of 2,467,342. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The business's 50-day moving average price is $36.66 and its 200-day moving average price is $36.56. The stock has a market capitalization of $9.47 billion, a P/E ratio of 19.99, 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 released its 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same quarter last year, the company earned $0.63 EPS. Equities analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. This is an increase from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Friday, March 14th. Range Resources's payout ratio is presently 32.14%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RRC. Truist Financial upped their target price on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research report on Monday, March 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $42.00 price objective on shares of Range Resources in a research report on Friday, April 11th. Williams Trading set a $40.00 target price on shares of Range Resources in a research report on Wednesday, March 5th. Piper Sandler upped their target price on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and raised their price target for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources presently has an average rating of "Hold" and a consensus price target of $41.85.

Insider Activity at Range Resources

In other Range Resources news, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now directly owns 54,394 shares in the company, valued at approximately $1,905,421.82. This trade represents a 19.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the transaction, the chief executive officer now directly owns 58,431 shares in the company, valued at $2,361,781.02. The trade was 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 valued at $2,815,807 over the last ninety days. 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.