Cookson Peirce & Co. Inc. Purchases 12,690 Shares of Range Resources Co. (NYSE:RRC)

Cookson Peirce & Co. Inc. raised its position in Range Resources Co. (NYSE:RRC) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 330,739 shares of the oil and gas exploration company’s stock after buying an additional 12,690 shares during the period. Cookson Peirce & Co. Inc. owned about 0.14% of Range Resources worth $10,068,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its position in shares of Range Resources by 12.4% in the 1st quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company’s stock worth $1,378,000 after purchasing an additional 4,987 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Range Resources by 31.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 35,865 shares of the oil and gas exploration company’s stock worth $1,090,000 after buying an additional 8,648 shares during the period. Vontobel Holding Ltd. acquired a new stake in Range Resources during the 1st quarter worth $213,000. Lord Abbett & CO. LLC acquired a new stake in Range Resources during the 1st quarter worth $7,059,000. Finally, Canada Pension Plan Investment Board raised its stake in Range Resources by 1,102.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company’s stock worth $4,609,000 after buying an additional 139,096 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Range Resources Price Performance

Shares of NYSE:RRC traded down $0.15 during trading on Tuesday, hitting $34.90. 1,121,630 shares of the company were exchanged, compared to its average volume of 2,550,557. The business’s 50 day moving average is $32.49 and its 200-day moving average is $32.16. The company has a market capitalization of $8.45 billion, a P/E ratio of 9.76 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $37.88.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, topping 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 company had revenue of $941.40 million for the quarter, compared to analysts’ expectations of $672.25 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Range Resources’s revenue for the quarter was down 42.3% on a year-over-year basis. Equities analysts forecast that Range Resources Co. will post 1.92 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Range Resources’s dividend payout ratio (DPR) is currently 9.04%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RRC shares. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Range Resources in a research note on Tuesday, April 9th. Raymond James lowered their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Barclays began coverage on Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. StockNews.com raised Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Finally, Truist Financial lowered their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.25.

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.