Janney Montgomery Scott LLC Invests $304,000 in Range Resources Co. (NYSE:RRC)

Janney Montgomery Scott LLC acquired a new stake in Range Resources Co. (NYSE:RRC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,454 shares of the oil and gas exploration company's stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in shares of Range Resources during the third quarter valued at approximately $25,000. UMB Bank n.a. boosted its position in shares of 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 valued at $41,000 after buying an additional 426 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock valued at $46,000 after buying an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new position in Range Resources in the third quarter valued at about $49,000. Finally, Versant Capital Management Inc lifted its holdings in Range Resources by 42.8% in 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 acquiring an additional 463 shares during the period. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of Range Resources stock traded down $0.12 during mid-day trading on Friday, reaching $38.68. 2,199,815 shares of the stock traded hands, compared to its average volume of 2,545,791. The business has a 50-day moving average of $37.17 and a 200 day moving average of $33.34. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The stock has a market capitalization of $9.33 billion, a PE ratio of 19.54 and a beta of 1.77. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. Range Resources's payout ratio is currently 16.16%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRC. Barclays lifted their target price on Range Resources from $34.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Stephens lifted their target price on Range Resources from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Benchmark reissued a "hold" rating on shares of Range Resources in a research report on Friday, January 17th. Mizuho boosted their target price on Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Finally, StockNews.com upgraded Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Range Resources presently has an average rating of "Hold" and an average price target of $38.78.

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.