NFC Investments LLC Takes Position in Range Resources Co. (NYSE:RRC)

NFC Investments LLC purchased a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 149,507 shares of the oil and gas exploration company's stock, valued at approximately $5,379,000. Range Resources makes up 1.5% of NFC Investments LLC's portfolio, making the stock its 19th largest position. NFC Investments LLC owned about 0.06% of Range Resources as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RRC. Amundi raised its stake in Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock worth $44,308,000 after acquiring an additional 826,530 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after purchasing an additional 604,199 shares during the last quarter. Telemark Asset Management LLC acquired a new position in Range Resources during the 4th quarter worth approximately $14,392,000. HITE Hedge Asset Management LLC bought a new position in Range Resources in the 3rd quarter valued at approximately $11,508,000. Finally, Raymond James Financial Inc. bought a new position in Range Resources in the 4th quarter valued at approximately $13,088,000. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Up 0.3 %

Shares of RRC traded up $0.14 on Wednesday, reaching $39.78. The company's stock had a trading volume of 501,755 shares, compared to its average volume of 2,289,643. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The stock has a market capitalization of $9.60 billion, a PE ratio of 20.06, a PEG ratio of 5.11 and a beta of 1.80. 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 firm has a fifty day moving average of $38.41 and a 200-day moving average of $34.58.

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Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 for the quarter, compared to analysts' expectations of $676.53 million. During the same period in the prior year, the business posted $0.63 earnings per share. Equities analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a positive change 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 0.91%. The ex-dividend date of this dividend is Friday, March 14th. Range Resources's payout ratio is 32.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho upped their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Williams Trading set a $40.00 target price on Range Resources in a report on Wednesday, March 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Bank of America upgraded Range Resources from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.95.

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.