Range Resources Co. (NYSE:RRC) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in shares of Range Resources Co. (NYSE:RRC) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,114 shares of the oil and gas exploration company’s stock after purchasing an additional 1,891 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Range Resources were worth $1,227,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RRC. Smartleaf Asset Management LLC boosted its position in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 471 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources in the fourth quarter worth $46,000. Versant Capital Management Inc raised its holdings in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares during the last quarter. Finally, Quent Capital LLC lifted its position in Range Resources by 72.0% during the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company’s stock valued at $78,000 after purchasing an additional 912 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Down 12.0 %

Shares of RRC stock opened at $33.51 on Friday. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a market capitalization of $8.09 billion, a P/E ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. The stock’s fifty day moving average is $38.29 and its two-hundred day moving average is $35.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $676.53 million. During the same period last year, the firm 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. Range Resources’s dividend payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RRC shares. Mizuho lifted their price objective on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, March 17th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Morgan Stanley raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $49.00 in a report on Wednesday, March 26th. Finally, Barclays set a $43.00 price objective on shares of Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $41.60.

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.