LPL Financial LLC Has $4.10 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

LPL Financial LLC lifted its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,800 shares of the oil and gas exploration company's stock after purchasing an additional 21,440 shares during the period. LPL Financial LLC's holdings in Range Resources were worth $4,095,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position 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 worth $37,000 after acquiring an additional 471 shares in the last quarter. UMB Bank n.a. raised its stake 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 valued at $41,000 after acquiring an additional 426 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Range Resources in the fourth quarter valued at about $46,000. Versant Capital Management Inc boosted its holdings in shares of 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 period. Finally, Quent Capital LLC grew its stake in Range Resources by 72.0% in 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 buying an additional 912 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

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Range Resources Price Performance

Shares of RRC stock traded up $0.23 on Tuesday, reaching $33.69. The company had a trading volume of 213,759 shares, compared to its average volume of 2,917,302. The business's 50-day moving average is $37.59 and its 200 day moving average is $35.64. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $8.13 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last issued 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. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the firm earned $0.63 EPS. Equities research analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company 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 was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is currently 32.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RRC shares. Citigroup cut Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Barclays set a $43.00 price objective on Range Resources and gave the company an "equal weight" rating in a report on Thursday, February 27th. Benchmark reissued a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Wolfe Research upgraded shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. Finally, Bank of America upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.81.

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.