Congress Asset Management Co. Lowers Stake in Range Resources Co. (NYSE:RRC)

Congress Asset Management Co. reduced its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 560,096 shares of the oil and gas exploration company's stock after selling 12,096 shares during the quarter. Congress Asset Management Co. owned about 0.23% of Range Resources worth $20,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company's stock worth $71,000 after acquiring an additional 1,694 shares during the last quarter. Creative Planning boosted its holdings in shares of Range Resources by 2.0% during the 3rd quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company's stock valued at $1,745,000 after purchasing an additional 1,089 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock valued at $46,000 after purchasing an additional 705 shares during the last quarter. Raymond James & Associates grew its position in shares of Range Resources by 4.2% during the third quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company's stock valued at $7,999,000 after purchasing an additional 10,391 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Range Resources by 2,976.0% in the third quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company's stock worth $2,000,000 after purchasing an additional 59,520 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Trading Down 0.6 %

Shares of NYSE RRC traded down $0.24 during midday trading on Thursday, hitting $39.66. The company's stock had a trading volume of 2,293,854 shares, compared to its average volume of 2,579,538. The business's 50 day moving average is $37.44 and its two-hundred day moving average is $33.53. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. 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 market cap of $9.57 billion, a P/E ratio of 20.03 and a beta of 1.77.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. Range Resources's dividend payout ratio (DPR) is 16.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RRC shares. The Goldman Sachs Group increased their price target on Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Mizuho increased their target price on Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Stephens boosted their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Bank of America raised shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price target for the company from $34.00 to $45.00 in a research note on Monday, January 13th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Range Resources has a consensus rating of "Hold" and an average price target of $38.78.

Range Resources 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.