Cramer Rosenthal Mcglynn LLC Acquires New Holdings in Range Resources Co. (NYSE:RRC)

Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of Range Resources Co. (NYSE:RRC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 462,998 shares of the oil and gas exploration company's stock, valued at approximately $16,659,000. Cramer Rosenthal Mcglynn LLC owned 0.19% of Range Resources at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% in 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 in the last quarter. Headlands Technologies LLC bought a new position in Range Resources in the 4th quarter worth approximately $42,000. Geneos Wealth Management Inc. purchased a new stake in Range Resources during the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc raised its position in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after buying an additional 463 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays set a $43.00 target price on shares of Range Resources and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Raymond James lifted their target price on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target for the company. in a research note on Friday, January 17th. The Goldman Sachs Group raised their price target on Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $41.52.

Range Resources Trading Up 4.7 %

RRC stock traded up $1.55 during trading on Wednesday, hitting $34.84. The company had a trading volume of 2,328,931 shares, compared to its average volume of 2,453,885. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a 50 day simple moving average of $36.99 and a 200-day simple moving average of $35.70. The firm has a market capitalization of $8.41 billion, a P/E ratio of 17.60, a PEG ratio of 5.11 and a beta of 1.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the business posted $0.63 EPS. As a group, research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.03%. This is a boost from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's dividend payout ratio is presently 32.73%.

Range Resources Company 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.