Schonfeld Strategic Advisors LLC Makes New $441,000 Investment in Range Resources Co. (NYSE:RRC)

Schonfeld Strategic Advisors LLC acquired a new position in Range Resources Co. (NYSE:RRC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,249 shares of the oil and gas exploration company's stock, valued at approximately $441,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in shares of Range Resources by 23.2% in the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after acquiring an additional 21,440 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Range Resources during the 4th quarter worth $380,000. Calamos Advisors LLC bought a new position in Range Resources during the 4th quarter worth $567,000. Radnor Capital Management LLC increased its position in shares of Range Resources by 156.2% in the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock worth $1,547,000 after purchasing an additional 26,213 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Range Resources by 169.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company's stock worth $674,000 after purchasing an additional 11,276 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Up 4.2%

Shares of RRC stock traded up $1.62 during trading hours on Tuesday, reaching $40.62. The company's stock had a trading volume of 3,470,559 shares, compared to its average volume of 2,474,188. The stock has a market capitalization of $9.71 billion, a P/E ratio of 20.52, a P/E/G ratio of 5.11 and a beta of 0.60. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The firm's fifty day simple moving average is $36.33 and its 200 day simple moving average is $36.22. 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 issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The firm 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 period last year, the company earned $0.63 EPS. Equities research analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This is a positive change 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 0.89%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

Insider Transactions at Range Resources

In related news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the sale, the director now directly owns 54,394 shares in the company, valued at $1,905,421.82. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RRC shares. Piper Sandler lifted their target price on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday. UBS Group lifted 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. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target on the stock. in a research note on Friday, January 17th. Morgan Stanley set a $41.00 target price on Range Resources in a research report on Tuesday, April 15th. Finally, Raymond James upped their price target on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $41.85.

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.