Raymond James Financial Inc. Takes $13.09 Million Position in Range Resources Co. (NYSE:RRC)

Raymond James Financial Inc. bought a new position in Range Resources Co. (NYSE:RRC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 363,767 shares of the oil and gas exploration company’s stock, valued at approximately $13,088,000. Raymond James Financial Inc. owned 0.15% of Range Resources as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after buying an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Range Resources in the 4th quarter worth about $380,000. HITE Hedge Asset Management LLC purchased a new position in shares of Range Resources during the 3rd quarter worth about $11,508,000. Calamos Advisors LLC bought a new position in Range Resources during the 4th quarter valued at about $567,000. Finally, Radnor Capital Management LLC raised its position in Range Resources by 156.2% in the 4th 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. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and upped their target price for the company from $43.00 to $45.00 in a research note on Thursday, March 13th. Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler increased their target price on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. StockNews.com lowered shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Citigroup downgraded shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.95.

Range Resources Trading Up 2.1 %

Shares of NYSE RRC opened at $40.48 on Thursday. The business has a fifty day moving average price of $38.47 and a 200 day moving average price of $34.62. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. 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 stock has a market capitalization of $9.77 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last released 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities research analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.89%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is 32.73%.

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.