Range Resources Co. (NYSE:RRC) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its stake in Range Resources Co. (NYSE:RRC) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,446,546 shares of the oil and gas exploration company’s stock after selling 110,638 shares during the quarter. Invesco Ltd.’s holdings in Range Resources were worth $52,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in 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 valued at $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. lifted its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Range Resources during the fourth quarter valued at $42,000. Geneos Wealth Management Inc. bought a new position in shares of Range Resources during the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc increased its holdings in shares of 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 worth $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Price Performance

Shares of NYSE:RRC opened at $33.37 on Wednesday. The company has a market capitalization of $8.05 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. 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 has a fifty day moving average of $37.51 and a 200-day moving average of $35.63. Range Resources Co. has a one year low of $27.29 and a one year 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 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.63 earnings per share. As a group, equities analysts anticipate 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 was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Analysts Set New Price Targets

Several research analysts have commented on RRC shares. Morgan Stanley set a $41.00 target price on shares of Range Resources in a research report on Tuesday. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, January 3rd. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Raymond James increased their price target on Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Finally, StockNews.com cut shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.43.

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.