GSA Capital Partners LLP bought a new position in Range Resources Co. (NYSE: RRC – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,985 shares of the oil and gas exploration company stock, valued at approximately $ 214,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in shares of Range Resources by 0.3% in the third quarter. Voya Investment Management LLC now owns 143,642 shares of the oil and gas exploration company stock worth $ 3,251,000 after acquiring an additional 433 shares during the last quarter. Natixis Advisors LP lifted its position in Range Resources by 1.5% during the fourth quarter. Natixis Advisors LP now owns 48,203 shares of the oil and gas exploration company stock valued at $ 859,000 after buying an additional 732 shares in the last quarter. California State Teachers Retirement System lifted its position in Range Resources by 0.5% during the third quarter. California State Teachers Retirement System now owns 331,036 shares of the oil and gas exploration company stock valued at $ 7,491,000 after buying an additional 1,543 shares in the last quarter. Diversified Trust Co lifted its position in Range Resources by 5.3% during the fourth quarter. Diversified Trust Co now owns 34,475 shares of the oil and gas exploration company stock valued at $ 615,000 after buying an additional 1,734 shares in the last quarter. Finally, Confluence Wealth Services Inc. acquired a new position in Range Resources during the fourth quarter valued at approximately $ 35,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.
RRC stock opened at $ 37.02 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.25 and a quick ratio of 0.25. Range Resources Co. has a 1-year low of $ 12.37 and a 1-year high of $ 37.20. The firm has a fifty day moving average price of $ 31.29 and a two-hundred day moving average price of $ 24.89. The firm has a market cap of $ 9.99 billion, a price-to-earnings ratio of -77.12, a PEG ratio of 0.31 and a beta of 1.98.
Range Resources (NYSE: RRC – Get Rating) last released its earnings results on Tuesday, April 26th. The oil and gas exploration company reported $ 1.18 earnings per share for the quarter, beating the consensus estimate of $ 1.15 by $ 0.03. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. The firm had revenue of $ 986.66 million during the quarter, compared to analyst estimates of $ 955.47 million. During the same quarter in the previous year, the firm earned $ 0.30 earnings per share. As a group, analysts expect that Range Resources Co. will post 4.01 EPS for the current fiscal year.
Range Resources announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 22nd that allows the company to repurchase $ 500.00 million in outstanding shares. This repurchase authorization allows the oil and gas exploration company to repurchase up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company management believes its shares are undervalued.
In related news, SVP David P. Poole sold 85,000 shares of the company stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $ 32.67, for a total value of $ 2,776,950.00. Following the completion of the sale, the senior vice president now owns 753,577 shares of the company stock, valued at $ 24,619,360.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dori Ginn sold 10,000 shares of the company stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $ 32.60, for a total transaction of $ 326,000.00. Following the completion of the sale, the senior vice president now directly owns 75,098 shares of the company stock, valued at approximately $ 2,448,194.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,500 shares of company stock valued at $ 5,669,875. Corporate insiders own 0.93% of the company stock.
RRC has been the topic of a number of recent research reports. TheStreet cut shares of Range Resources from a “b-” rating to a “c” rating in a research report on Friday, May 6th. Benchmark lifted their price target on shares of Range Resources from $ 33.00 to $ 43.00 in a research report on Monday, April 11th. Wells Fargo & Company lifted their price objective on shares of Range Resources from $ 34.00 to $ 41.00 and gave the company an “equal weight” rating in a research note on Monday, March 14th. Truist Financial lifted their price objective on shares of Range Resources from $ 33.00 to $ 37.00 in a research note on Thursday, April 21st. Finally, Susquehanna lifted their price objective on shares of Range Resources from $ 24.00 to $ 34.00 in a research note on Monday, April 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $ 30.00.
About Range Resources: (Get Rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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