Raymond James Financial Services Advisors Inc. lifted its stake in Range Resources Corp. (NYSE:RRC) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,767 shares of the oil and gas exploration company’s stock after acquiring an additional 9,443 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Range Resources were worth $951,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in RRC. Eagle Boston Investment Management Inc. lifted its stake in Range Resources by 46.8% during the fourth quarter. Eagle Boston Investment Management Inc. now owns 51,317 shares of the oil and gas exploration company’s stock worth $875,000 after purchasing an additional 16,358 shares during the last quarter. Toronto Dominion Bank increased its holdings in Range Resources by 13.9% in the fourth quarter. Toronto Dominion Bank now owns 98,582 shares of the oil and gas exploration company’s stock valued at $1,682,000 after purchasing an additional 12,010 shares during the period. First Trust Advisors LP increased its holdings in Range Resources by 74.6% in the fourth quarter. First Trust Advisors LP now owns 1,004,368 shares of the oil and gas exploration company’s stock valued at $17,135,000 after purchasing an additional 428,966 shares during the period. Sentry Investment Management LLC increased its holdings in Range Resources by 17.8% in the fourth quarter. Sentry Investment Management LLC now owns 183,694 shares of the oil and gas exploration company’s stock valued at $3,134,000 after purchasing an additional 27,706 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its holdings in Range Resources by 3.7% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 414,897 shares of the oil and gas exploration company’s stock valued at $7,078,000 after purchasing an additional 14,865 shares during the period. 96.30% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. ValuEngine raised shares of Range Resources from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Bank of America cut shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Scotiabank set a $27.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a research report on Saturday, November 25th. Morgan Stanley cut shares of Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research report on Wednesday, January 24th. Finally, Credit Suisse Group dropped their price target on shares of Range Resources from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Range Resources has a consensus rating of “Hold” and a consensus price target of $23.35.
In related news, Director Steffen E. Palko acquired 34,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average cost of $14.72 per share, with a total value of $500,480.00. Following the acquisition, the director now owns 61,267 shares of the company’s stock, valued at approximately $901,850.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.
Shares of Range Resources stock traded down $0.48 during trading hours on Monday, reaching $14.63. 3,953,730 shares of the company’s stock traded hands, compared to its average volume of 9,678,294. Range Resources Corp. has a 1 year low of $11.93 and a 1 year high of $30.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.54 and a current ratio of 0.57. The company has a market cap of $3,755.43, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 0.66 and a beta of 0.69.
Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Range Resources had a net margin of 12.76% and a return on equity of 5.42%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $659.71 million. During the same period in the previous year, the firm posted $0.23 EPS. The firm’s revenue was up 167.9% compared to the same quarter last year. sell-side analysts forecast that Range Resources Corp. will post 1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, March 15th. Range Resources’s dividend payout ratio is currently 5.97%.
About Range Resources
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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