Vanguard Group Inc. Acquires 26,113 Shares of Range Resources Co. (NYSE:RRC)

Vanguard Group Inc. increased its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,500,302 shares of the oil and gas exploration company's stock after buying an additional 26,113 shares during the period. Vanguard Group Inc. owned 10.15% of Range Resources worth $881,521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp raised its position in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock worth $332,000 after acquiring an additional 327 shares in the last quarter. CIBC Asset Management Inc grew its stake in Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after purchasing an additional 378 shares during the period. Commonwealth Equity Services LLC increased its holdings in Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock worth $508,000 after purchasing an additional 379 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Range Resources by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after buying an additional 390 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Range Resources by 0.6% during the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock worth $2,528,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

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Range Resources Stock Performance

NYSE:RRC traded down $2.51 during trading on Thursday, reaching $38.10. The company's stock had a trading volume of 3,506,238 shares, compared to its average volume of 2,360,424. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The firm has a 50 day moving average of $38.43 and a 200-day moving average of $35.43. 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 posted 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. The company had revenue of $626.42 million during 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 in the prior year, the business earned $0.63 earnings per share. Research analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Range Resources's payout ratio is presently 32.73%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RRC shares. Citigroup lowered shares of Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. Scotiabank cut shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective on the stock. in a research report on Friday, January 17th. Wells Fargo & Company boosted their target price on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Benchmark reiterated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Finally, The Goldman Sachs Group boosted their price objective on Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Range Resources currently has an average rating of "Hold" and an average price target of $41.60.

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.