Proficio Capital Partners LLC Takes $1.19 Million Position in Range Resources Co. (NYSE:RRC)

Proficio Capital Partners LLC purchased a new stake in Range Resources Co. (NYSE:RRC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 33,123 shares of the oil and gas exploration company's stock, valued at approximately $1,192,000.

A number of other hedge funds also recently modified their holdings of the company. M&T Bank Corp lifted its stake in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock worth $332,000 after purchasing an additional 327 shares during the period. Commerce Bank lifted its position in shares of Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock worth $211,000 after buying an additional 369 shares during the period. CIBC Asset Management Inc boosted its stake in Range Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock valued at $268,000 after buying an additional 378 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Range Resources by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company's stock valued at $2,397,000 after acquiring an additional 420 shares during the period. Finally, UMB Bank n.a. raised its stake in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wolfe Research raised shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a report on Friday, January 3rd. Citigroup cut shares of Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. Mizuho lifted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Wells Fargo & Company increased their price target on Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Williams Trading set a $40.00 price objective on Range Resources in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $39.95.

Range Resources Trading Up 1.9 %

RRC traded up $0.76 during trading on Monday, reaching $40.64. 2,693,813 shares of the company's stock were exchanged, compared to its average volume of 2,297,758. The company's fifty day moving average price is $38.56 and its 200-day moving average price is $34.81. The firm has a market capitalization of $9.81 billion, a PE ratio of 20.52, a P/E/G ratio of 5.11 and a beta of 1.80. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date is 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 dividend yield of 0.89%. Range Resources's dividend payout ratio is 32.73%.

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.