Fisher Asset Management LLC Has $36.49 Million Holdings in Range Resources Co. (NYSE:RRC)

Fisher Asset Management LLC lessened its stake in Range Resources Co. (NYSE:RRC - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,014,056 shares of the oil and gas exploration company's stock after selling 88,326 shares during the quarter. Fisher Asset Management LLC owned approximately 0.42% of Range Resources worth $36,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Range Resources in the third quarter valued at $25,000. UMB Bank n.a. raised its holdings 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 valued at $41,000 after purchasing an additional 426 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the 4th quarter valued at about $46,000. Versant Capital Management Inc increased 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 buying an additional 463 shares during the last quarter. Finally, Quent Capital LLC raised its stake in Range Resources by 72.0% in the fourth 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 period. 98.93% of the stock is owned by institutional investors.

Range Resources Price Performance

Shares of NYSE:RRC traded down $1.89 during midday trading on Thursday, hitting $35.64. The stock had a trading volume of 1,024,809 shares, compared to its average volume of 2,892,311. 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 company has a market capitalization of $8.60 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 5.11 and a beta of 1.77. The company's 50-day moving average price is $38.08 and its 200-day moving average price is $34.08. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95.

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Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 firm had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, equities research analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced 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 represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is currently 29.09%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RRC. Stephens boosted their target price on Range Resources from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. StockNews.com upgraded shares of Range Resources from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Bank of America raised shares of Range Resources from a "neutral" rating to a "buy" rating and increased their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their target price on Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Range Resources presently has a consensus rating of "Hold" and a consensus price target of $39.06.

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.