Oppenheimer Asset Management Inc. Buys Shares of 10,561 Range Resources Co. (NYSE:RRC)

Oppenheimer Asset Management Inc. purchased a new position in Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,561 shares of the oil and gas exploration company's stock, valued at approximately $380,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Range Resources in the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after buying an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $46,000. Versant Capital Management Inc boosted its position in Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after acquiring an additional 463 shares during the last quarter. Finally, Quent Capital LLC boosted its position in Range Resources by 72.0% during the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after acquiring an additional 912 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRC has been the topic of a number of recent analyst reports. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target on the stock. in a research note on Friday, January 17th. Royal Bank of Canada reissued a "sector perform" rating and issued a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. UBS Group lifted their price target on Range Resources from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. StockNews.com lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Friday. Finally, Benchmark restated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $39.11.

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Range Resources Stock Up 3.7 %

Shares of NYSE:RRC traded up $1.29 during mid-day trading on Monday, hitting $36.51. 2,878,487 shares of the company traded hands, compared to its average volume of 2,315,010. The firm's 50 day simple moving average is $38.17 and its 200 day simple moving average is $34.19. The firm has a market cap of $8.81 billion, a P/E ratio of 18.44, 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. 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 posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analyst estimates 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 last year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.09 dividend. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 14th. Range Resources's dividend payout ratio is presently 32.73%.

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.