Nomura Holdings Inc. Acquires New Shares in Range Resources Co. (NYSE:RRC)

Nomura Holdings Inc. acquired a new stake in shares of Range Resources Co. (NYSE:RRC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 32,019 shares of the oil and gas exploration company’s stock, valued at approximately $1,152,000.

Several other hedge funds also recently modified their holdings of RRC. Barclays PLC boosted its holdings in shares of Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock valued at $6,830,000 after acquiring an additional 142,938 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Range Resources during the 4th quarter worth $4,792,000. Diversify Wealth Management LLC raised its position in Range Resources by 30.1% during the 4th quarter. Diversify Wealth Management LLC now owns 14,997 shares of the oil and gas exploration company’s stock worth $572,000 after purchasing an additional 3,466 shares during the last quarter. UMB Bank n.a. raised its position in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Range Resources by 0.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after purchasing an additional 420 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC opened at $40.11 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a 50-day moving average of $36.56 and a 200-day moving average of $36.46. The company has a market cap of $9.59 billion, a PE ratio of 20.26, a P/E/G ratio of 5.11 and a beta of 0.60. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last year, the business posted $0.63 EPS. On average, equities research analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is currently 32.14%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Raymond James raised their target price on Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $43.00 to $45.00 in a research report on Thursday, March 13th. UBS Group raised their target price on Range Resources from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Roth Mkm raised Range Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group raised their target price on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.85.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 12,880 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the sale, the vice president now directly owns 1,723 shares of the company’s stock, valued at approximately $67,197. The trade was a 88.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the sale, the director now directly owns 54,394 shares of the company’s stock, valued at $1,905,421.82. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,880 shares of company stock worth $2,815,807 in the last three months. Company insiders own 1.00% of the company’s stock.

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.