Wealthfront Advisers LLC Invests $2.67 Million in Range Resources Co. (NYSE:RRC)

Wealthfront Advisers LLC 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 74,254 shares of the oil and gas exploration company's stock, valued at approximately $2,672,000.

Several other hedge funds have also recently bought and sold shares of RRC. Brooklyn Investment Group purchased a new stake in Range Resources during the third quarter worth $25,000. Smartleaf Asset Management LLC raised its stake in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after buying an additional 471 shares during the last quarter. UMB Bank n.a. boosted its position 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 worth $41,000 after buying an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the 4th quarter valued at about $46,000. Finally, Versant Capital Management Inc increased its holdings in Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after acquiring an additional 463 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Trading Up 1.5 %

Range Resources stock traded up $0.56 during midday trading on Monday, reaching $38.88. The stock had a trading volume of 1,966,745 shares, compared to its average volume of 2,295,496. The stock has a market capitalization of $9.38 billion, a PE ratio of 19.63, a price-to-earnings-growth 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. The stock's 50-day simple moving average is $38.31 and its 200 day simple moving average is $34.45. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95.

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Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $626.42 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.63 EPS. Analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is presently 32.73%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wolfe Research raised shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a report on Friday, January 3rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Mizuho boosted their price target on Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. StockNews.com lowered Range Resources from a "hold" rating to a "sell" rating in a research note on Friday, March 7th. Finally, Scotiabank downgraded shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $39.95.

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.