Range Resources Co. (NYSE:RRC) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its position in Range Resources Co. (NYSE:RRC) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,351 shares of the oil and gas exploration company’s stock after selling 1,909 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Range Resources were worth $5,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after purchasing an additional 371,777 shares during the last quarter. Lingotto Investment Management LLP raised its stake in Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after buying an additional 165,242 shares in the last quarter. Canoe Financial LP lifted its holdings in Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after buying an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Range Resources by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company’s stock valued at $76,011,000 after acquiring an additional 94,898 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after acquiring an additional 604,199 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE:RRC opened at $34.07 on Thursday. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a 50-day moving average price of $36.90 and a 200 day moving average price of $35.68. The company has a market cap of $8.22 billion, a P/E ratio of 17.21, a PEG ratio of 5.11 and a beta of 1.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same period last year, the firm earned $0.63 EPS. Research analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.09 per share. 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 1.06%. The ex-dividend date was Friday, March 14th. Range Resources’s payout ratio is presently 32.73%.

Analysts Set New Price Targets

Several brokerages have commented on RRC. Barclays dropped their price target on shares of Range Resources from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Roth Mkm upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $41.00 to $42.00 in a research note on Tuesday, April 8th. Susquehanna dropped their price objective on Range Resources from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday. Williams Trading set a $40.00 target price on Range Resources in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $41.00 price target on Range Resources in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus target price of $41.45.

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.