Graham Capital Management L.P. Purchases 151,874 Shares of Range Resources Co. (NYSE:RRC)

Graham Capital Management L.P. boosted its position in shares of Range Resources Co. (NYSE:RRC) by 1,202.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,509 shares of the oil and gas exploration company’s stock after acquiring an additional 151,874 shares during the quarter. Graham Capital Management L.P. owned 0.07% of Range Resources worth $5,919,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of 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 purchasing an additional 471 shares during the period. UMB Bank n.a. raised its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares during the period. Headlands Technologies LLC bought a new stake in Range Resources in the fourth quarter valued at approximately $42,000. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $46,000. Finally, Quent Capital LLC boosted its stake 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 acquiring an additional 912 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity

In other Range Resources news, Director James M. Funk sold 13,582 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 owns 54,394 shares of the company’s stock, valued at approximately $1,905,421.82. This represents a 19.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

RRC has been the subject of several research reports. Piper Sandler cut their price target on Range Resources from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group lifted their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays lowered their price target on shares of Range Resources from $43.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price objective on shares of Range Resources in a report on Friday, April 11th. Finally, Roth Mkm upgraded Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $41.00 to $42.00 in a research note on Tuesday, April 8th. One equities 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, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Range Resources Stock Up 3.1 %

RRC stock opened at $37.86 on Friday. The stock has a market capitalization of $9.05 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $36.20 and a 200-day moving average price of $36.07. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last posted its earnings results 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. 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 in the previous year, the firm posted $0.63 earnings per share. As a group, equities research analysts anticipate that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, March 14th. Range Resources’s dividend payout ratio is 32.14%.

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.