TCW Group Inc. Increases Position in Range Resources Co. (NYSE:RRC)

TCW Group Inc. raised its holdings in shares of Range Resources Co. (NYSE:RRC) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,989 shares of the oil and gas exploration company’s stock after purchasing an additional 1,720 shares during the quarter. TCW Group Inc.’s holdings in Range Resources were worth $1,439,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RRC. CWM LLC boosted its position in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after buying an additional 1,694 shares during the period. Creative Planning boosted its position in shares of Range Resources by 2.0% during the third quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company’s stock valued at $1,745,000 after buying an additional 1,089 shares during the period. Blue Trust Inc. boosted its holdings in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the period. Raymond James & Associates boosted its holdings in shares of Range Resources by 4.2% in the third quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company’s stock valued at $7,999,000 after purchasing an additional 10,391 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Range Resources by 2,976.0% in the third quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company’s stock valued at $2,000,000 after purchasing an additional 59,520 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRC. The Goldman Sachs Group boosted their price target on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Truist Financial boosted their price target on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. StockNews.com upgraded Range Resources to a “sell” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $38.78.

Range Resources Stock Performance

Shares of RRC stock opened at $37.94 on Tuesday. The business’s fifty day simple moving average is $37.65 and its 200-day simple moving average is $33.77. The company has a market cap of $9.16 billion, a PE ratio of 19.16, a PEG ratio of 5.11 and a beta of 1.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is presently 16.16%.

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.