International Assets Investment Management LLC Acquires 58,880 Shares of Range Resources Co. (NYSE:RRC)

International Assets Investment Management LLC increased its holdings in shares of Range Resources Co. (NYSE:RRC) by 2,944.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 60,880 shares of the oil and gas exploration company’s stock after purchasing an additional 58,880 shares during the period. International Assets Investment Management LLC’s holdings in Range Resources were worth $2,000,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RRC. Raleigh Capital Management Inc. bought a new position in Range Resources during the third quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new position in Range Resources during the third quarter worth about $27,000. Lazard Asset Management LLC bought a new position in Range Resources during the second quarter worth about $28,000. Proffitt & Goodson Inc. bought a new position in Range Resources during the third quarter worth about $32,000. Finally, Larson Financial Group LLC grew its holdings in Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares during the period. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

RRC has been the subject of a number of research analyst reports. Mizuho restated a “buy” rating and set a $39.00 price objective on shares of Range Resources in a report on Thursday, April 11th. Barclays initiated coverage on Range Resources in a report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price objective for the company. Truist Financial reduced their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 5th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. Finally, Stifel Nicolaus reduced their price objective on Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.80.

Range Resources Stock Up 1.4 %

Shares of RRC opened at $35.27 on Friday. Range Resources Co. has a one year low of $23.92 and a one year high of $37.88. The company has a market cap of $8.54 billion, a P/E ratio of 9.96 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50 day simple moving average of $33.03 and a two-hundred day simple moving average of $32.25.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The business had revenue of $941.40 million during the quarter, compared to the consensus estimate of $672.25 million. During the same period in the previous year, the business earned $1.26 earnings per share. The company’s revenue was down 42.3% on a year-over-year basis. Research analysts forecast that Range Resources Co. will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. Range Resources’s dividend payout ratio (DPR) is presently 9.04%.

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.