Pictet Asset Management Holding SA Purchases 1,891 Shares of Range Resources Co. (NYSE:RRC)

Pictet Asset Management Holding SA grew its position in shares of Range Resources Co. (NYSE:RRC) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,114 shares of the oil and gas exploration company’s stock after acquiring an additional 1,891 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Range Resources were worth $1,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RRC. Boston Partners grew its stake in shares of Range Resources by 4.9% in 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 buying an additional 371,777 shares in the last quarter. Lingotto Investment Management LLP increased its stake in Range Resources by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after acquiring an additional 165,242 shares during the last quarter. Geode Capital Management LLC raised its position in Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after purchasing an additional 35,344 shares during the period. Canoe Financial LP lifted its stake in shares of Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after purchasing an additional 251,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $76,011,000 after purchasing an additional 94,898 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group raised their price target on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Raymond James upped their price target on shares of Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. JPMorgan Chase & Co. raised shares of Range Resources from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. Finally, Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $41.60.

Range Resources Price Performance

Shares of RRC opened at $33.51 on Friday. The company has a 50 day moving average of $38.29 and a two-hundred day moving average of $35.50. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth 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 Co. has a twelve month low of $27.29 and a twelve month high of $41.95.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping 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 firm had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period in the previous year, the business earned $0.63 EPS. As a group, analysts predict that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is 32.73%.

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.