GAMMA Investing LLC Has $158,000 Stock Position in Range Resources Co. (NYSE:RRC)

GAMMA Investing LLC raised its position in Range Resources Co. (NYSE:RRC) by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,391 shares of the oil and gas exploration company’s stock after purchasing an additional 1,172 shares during the quarter. GAMMA Investing LLC’s holdings in Range Resources were worth $158,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RRC. Lingotto Investment Management LLP boosted its holdings in Range Resources by 1.5% in the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after purchasing an additional 93,782 shares in the last quarter. KGH Ltd lifted its position in shares of Range Resources by 3.2% in the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after buying an additional 190,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Range Resources by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares in the last quarter. Canoe Financial LP increased its holdings 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 valued at $81,299,000 after acquiring an additional 1,422,200 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Range Resources in the 2nd quarter valued at approximately $78,223,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research analyst reports. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and raised their price target for the company from $28.00 to $35.00 in a research report on Monday, December 9th. Royal Bank of Canada raised their target price on Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a report on Monday, November 25th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, January 3rd. Morgan Stanley reduced their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Finally, Mizuho upped their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.32.

Range Resources Trading Up 1.7 %

Shares of RRC stock opened at $37.41 on Thursday. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a market capitalization of $9.03 billion, a PE ratio of 18.89 and a beta of 1.81. The firm has a 50 day moving average price of $34.48 and a two-hundred day moving average price of $32.31. 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 results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. Range Resources’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. As a group, analysts predict that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Insider Buying and Selling

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction on Thursday, October 24th. The stock was purchased 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 owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently 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.