Mint Tower Capital Management B.V. Decreases Holdings in Range Resources Co. (NYSE:RRC)

Mint Tower Capital Management B.V. lowered its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the oil and gas exploration company's stock after selling 25,000 shares during the quarter. Mint Tower Capital Management B.V.'s holdings in Range Resources were worth $900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group purchased a new position in shares of Range Resources during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its holdings in Range Resources by 87.1% during the 4th 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 during the last quarter. UMB Bank n.a. grew its stake in shares of 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 acquiring an additional 426 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 463 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on RRC. Morgan Stanley raised shares of Range Resources from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $40.00 to $49.00 in a research report on Wednesday, March 26th. Wells Fargo & Company lifted their price target on Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Scotiabank downgraded shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target on the stock. in a report on Friday, January 17th. Bank of America upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $40.89.

Range Resources Price Performance

Range Resources stock traded up $0.69 during midday trading on Monday, hitting $39.88. 521,873 shares of the company's stock were exchanged, compared to its average volume of 2,764,189. The company has a market cap of $9.62 billion, a P/E ratio of 20.14, a PEG ratio of 5.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50-day moving average price of $38.52 and a two-hundred day moving average price of $35.22. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95.

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, topping 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 company had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This is an increase from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's payout ratio is currently 32.73%.

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.