Range Resources Co. (NYSE:RRC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,491 shares of the oil and gas exploration company’s stock after selling 542 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Range Resources were worth $305,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RRC. Amundi lifted its position in shares of Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after acquiring an additional 826,530 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Range Resources by 61.9% during 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. Telemark Asset Management LLC bought a new position in Range Resources in the 4th quarter worth $14,392,000. HITE Hedge Asset Management LLC acquired a new position in shares of Range Resources during the third quarter worth approximately $11,508,000. Finally, Raymond James Financial Inc. bought a new position in Range Resources during the fourth quarter valued at about $13,088,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

RRC stock opened at $38.86 on Friday. Range Resources Co. has a 52-week low of $27.29 and a 52-week 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. The firm has a 50 day moving average price of $38.56 and a 200-day moving average price of $35.05. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Equities research analysts forecast 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 will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.93%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RRC shares. StockNews.com raised Range Resources from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Finally, Citigroup downgraded shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.89.

About Range Resources

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.