Brandywine Global Investment Management LLC Makes New $5.16 Million Investment in Range Resources Co. (NYSE:RRC)

Brandywine Global Investment Management LLC bought a new position in Range Resources Co. (NYSE:RRC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 143,261 shares of the oil and gas exploration company's stock, valued at approximately $5,155,000. Brandywine Global Investment Management LLC owned approximately 0.06% of Range Resources as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RRC. Smartleaf Asset Management LLC raised its stake in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. increased 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 buying an additional 426 shares during the period. Geneos Wealth Management Inc. purchased a new position in Range Resources during the 4th quarter worth approximately $46,000. Versant Capital Management Inc raised its position in Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after buying an additional 463 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in Range Resources by 72.0% during the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock valued at $78,000 after acquiring an additional 912 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently issued reports on RRC. Royal Bank of Canada reissued a "sector perform" rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective for the company. in a research note on Friday, January 17th. UBS Group boosted their price objective on Range Resources from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Mizuho raised their target price on Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Finally, Wells Fargo & Company boosted their price target on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $41.60.

Range Resources Price Performance

NYSE:RRC traded down $4.57 during trading hours on Friday, hitting $33.51. 5,937,848 shares of the stock were exchanged, compared to its average volume of 2,373,464. The firm's fifty day moving average price is $38.29 and its 200 day moving average price is $35.54. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a market cap of $8.09 billion, a P/E ratio of 16.92, a P/E/G ratio of 5.11 and a beta of 1.73. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating 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 firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same period in the prior year, the company earned $0.63 EPS. As a group, equities research analysts anticipate that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. This is an increase from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is currently 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.