Trexquant Investment LP Sells 33,921 Shares of Range Resources Co. (NYSE:RRC)

Trexquant Investment LP reduced its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 18.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,778 shares of the oil and gas exploration company's stock after selling 33,921 shares during the quarter. Trexquant Investment LP owned about 0.06% of Range Resources worth $5,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. M&T Bank Corp increased its holdings in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after purchasing an additional 327 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after buying an additional 378 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares during the period. King Luther Capital Management Corp boosted its stake in Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock worth $1,130,000 after acquiring an additional 390 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Range Resources by 0.6% during the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after purchasing an additional 395 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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Range Resources Price Performance

Shares of Range Resources stock traded down $2.84 during midday trading on Thursday, hitting $31.72. 1,339,000 shares of the company traded hands, compared to its average volume of 2,926,068. The firm's fifty day moving average price is $37.89 and its 200-day moving average price is $35.56. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 5.11 and a beta of 1.73. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. 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 (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the prior year, the company earned $0.63 EPS. As a group, sell-side analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. This is an increase from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

RRC has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Barclays set a $43.00 price target on shares of Range Resources and gave the company an "equal weight" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised Range Resources from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. Stephens set a $51.00 price target on Range Resources and gave the stock an "overweight" rating in a research report on Thursday, April 3rd. Finally, Citigroup lowered shares of Range Resources from a "neutral" rating to a "reduce" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Range Resources currently has a consensus rating of "Hold" and an average target price of $41.71.

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.