Range Resources Co. (NYSE:RRC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Range Resources Co. (NYSE:RRC - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,034 shares of the oil and gas exploration company's stock after purchasing an additional 11,254 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Range Resources were worth $3,815,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in RRC. CIBC Asset Management Inc lifted its position in Range Resources by 5.4% during the fourth 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. Commonwealth Equity Services LLC raised its stake in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after acquiring an additional 390 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Range Resources by 0.6% during the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after acquiring an additional 395 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Range Resources by 0.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company's stock worth $2,397,000 after purchasing an additional 420 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent research reports. Benchmark restated a "hold" rating on shares of Range Resources in a research note on Friday, January 17th. Susquehanna reduced their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com raised shares of Range Resources from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Barclays decreased their target price on shares of Range Resources from $43.00 to $39.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and raised their price target for the company from $43.00 to $45.00 in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Range Resources presently has an average rating of "Hold" and a consensus price target of $41.50.

Range Resources Stock Performance

RRC traded up $0.48 during trading hours on Monday, hitting $35.27. 2,377,796 shares of the stock were exchanged, compared to its average volume of 2,452,352. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The stock has a 50-day simple moving average of $36.72 and a 200-day simple moving average of $35.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. 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 firm posted $0.63 EPS. Analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is currently 32.14%.

About Range Resources

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.