William Blair Investment Management LLC Sells 700,349 Shares of Range Resources Co. (NYSE:RRC)

William Blair Investment Management LLC decreased its stake in Range Resources Co. (NYSE:RRC - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,594,616 shares of the oil and gas exploration company's stock after selling 700,349 shares during the quarter. William Blair Investment Management LLC owned approximately 0.66% of Range Resources worth $57,374,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RRC. Brooklyn Investment Group bought a new position in Range Resources in the 3rd quarter valued at $25,000. Smartleaf Asset Management LLC raised its position in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. raised its position in 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 last quarter. Geneos Wealth Management Inc. bought a new position in Range Resources in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc raised its position in Range Resources by 42.8% in 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 purchasing an additional 463 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Up 2.0 %

RRC traded up $0.79 on Wednesday, hitting $40.43. 880,884 shares of the company were exchanged, compared to its average volume of 2,291,169. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a market cap of $9.76 billion, a PE ratio of 20.43, a PEG 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 fifty day moving average is $38.41 and its 200-day moving average is $34.58.

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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 (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm 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 quarter in the prior year, the company earned $0.63 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.09 dividend. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.89%. Range Resources's dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

RRC has been the subject of several research analyst reports. Scotiabank downgraded Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Wolfe Research upgraded Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price for the company in a research report on Friday, January 3rd. Wells Fargo & Company boosted their target price on Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Mizuho boosted their target price on Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. Finally, StockNews.com downgraded Range Resources from a "hold" rating to a "sell" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Range Resources presently has an average rating of "Hold" and an average target price of $39.95.

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.