MetLife Investment Management LLC Increases Stock Holdings in Range Resources Co. (NYSE:RRC)

MetLife Investment Management LLC lifted its position in Range Resources Co. (NYSE:RRC - Free Report) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,955 shares of the oil and gas exploration company's stock after purchasing an additional 10,920 shares during the period. MetLife Investment Management LLC owned 0.06% of Range Resources worth $4,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its holdings in Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after buying an additional 142,938 shares during the period. Sanctuary Advisors LLC bought a new stake in Range Resources during the 3rd quarter valued at $205,000. Forthright Family Wealth Advisory LLC purchased a new position in shares of Range Resources in the 3rd quarter valued at $445,000. JPMorgan Chase & Co. raised its position in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake 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 purchasing an additional 463 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Range Resources Stock Performance

Range Resources stock traded up $0.48 during mid-day trading on Monday, hitting $35.27. The company had a trading volume of 2,377,796 shares, compared to its average volume of 2,452,352. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 17.81, 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. The company's fifty day moving average is $36.72 and its 200-day moving average is $35.79. 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 announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same quarter last year, the business earned $0.63 earnings per share. Equities research analysts predict that Range Resources Co. will post 2.02 EPS for the current 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 1.02%. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RRC shares. Benchmark reiterated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Raymond James increased their target price on shares of Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Stephens reaffirmed an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a report on Wednesday, April 23rd. Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and increased their price objective for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. Finally, Barclays dropped their target price on Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $41.50.

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.