Aristotle Capital Boston LLC Sells 22,275 Shares of Range Resources Co. (NYSE:RRC)

Aristotle Capital Boston LLC decreased its position in Range Resources Co. (NYSE:RRC) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,825 shares of the oil and gas exploration company’s stock after selling 22,275 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Range Resources were worth $8,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC lifted its position in Range Resources by 23.2% during the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock worth $4,095,000 after acquiring an additional 21,440 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 604,199 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Range Resources during the 4th quarter valued at approximately $380,000. Calamos Advisors LLC acquired a new stake in Range Resources in the 4th quarter valued at approximately $567,000. Finally, Radnor Capital Management LLC increased 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 buying an additional 26,213 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 2.2 %

Shares of Range Resources stock opened at $34.96 on Friday. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The stock has a market capitalization of $8.35 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. The company has a 50-day simple moving average of $36.32 and a 200 day simple moving average of $35.85. 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 posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the previous year, the company posted $0.63 earnings per share. Research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is presently 32.14%.

Wall Street Analyst Weigh In

RRC has been the subject of several research reports. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Roth Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Stephens reaffirmed an “overweight” rating and set a $49.00 price objective on shares of Range Resources in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $43.00 to $45.00 in a research report on Thursday, March 13th. Finally, Piper Sandler lowered their price target on Range Resources from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.50.

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.