Forum Financial Management LP Acquires 1,293 Shares of Range Resources Co. (NYSE:RRC)

Forum Financial Management LP grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 19.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,046 shares of the oil and gas exploration company’s stock after buying an additional 1,293 shares during the period. Forum Financial Management LP’s holdings in Range Resources were worth $289,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of RRC. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Range Resources during the fourth quarter worth approximately $33,684,000. Amundi raised its position in shares of Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after purchasing an additional 826,530 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after purchasing an additional 624,955 shares during the period. Finally, Northern Trust Corp raised its position in shares of Range Resources by 37.1% during the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after purchasing an additional 605,315 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Insider Transactions at Range Resources

In other news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the completion of the transaction, the chief executive officer now owns 58,431 shares in the company, valued at approximately $2,361,781.02. This represents a 38.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin W. Mcdowell sold 9,568 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the transaction, the senior vice president now owns 13,800 shares of the company’s stock, valued at approximately $560,556. This represents a 40.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,880 shares of company stock worth $2,815,807. 1.00% of the stock is owned by company insiders.

Range Resources Stock Up 0.7%

Shares of NYSE:RRC opened at $39.83 on Wednesday. The company has a market capitalization of $9.52 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. 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 business has a fifty day moving average price of $36.64 and a two-hundred day moving average price of $36.81. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95.

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. 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 quarter in the prior year, the company earned $0.63 EPS. Analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

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

Analyst Ratings Changes

RRC has been the topic of a number of research reports. Citigroup lowered Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Piper Sandler upped their target price on Range Resources from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of Range Resources in a research report on Friday, April 11th. Williams Trading set a $40.00 target price on Range Resources in a research report on Wednesday, March 5th. Finally, UBS Group increased their price target on Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus target price of $41.95.

About Range Resources

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.