133,192 Shares in Range Resources Co. (NYSE:RRC) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new position in shares of Range Resources Co. (NYSE:RRC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 133,192 shares of the oil and gas exploration company’s stock, valued at approximately $4,792,000. Assenagon Asset Management S.A. owned approximately 0.06% of Range Resources as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RRC. Canoe Financial LP raised its stake in shares of Range Resources by 114.9% during the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after acquiring an additional 1,422,200 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Range Resources by 61.9% during 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 acquiring an additional 604,199 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Range Resources during the 3rd quarter worth approximately $11,508,000. Verition Fund Management LLC raised its stake in shares of Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock worth $12,594,000 after acquiring an additional 324,011 shares in the last quarter. Finally, Sagefield Capital LP raised its stake in shares of Range Resources by 44.8% during the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock worth $30,408,000 after acquiring an additional 280,452 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $41.09 on Tuesday. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.65. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 20.75 and a beta of 1.81. The firm has a 50-day simple moving average of $35.75 and a 200-day simple moving average of $32.62. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same period last year, the business earned $0.43 earnings per share. Range Resources’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group upgraded shares of Range Resources from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, Truist Financial boosted their target price on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.16.

Insider Buying and Selling

In related news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is owned by company insiders.

Range Resources Company 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.