Range Resources Co. (NYSE:RRC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Range Resources Co. (NYSE:RRC) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 7,435 shares of the oil and gas exploration company’s stock after buying an additional 378 shares during the quarter. CIBC Asset Management Inc’s holdings in Range Resources were worth $268,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Range Resources in the third quarter valued at approximately $25,000. UMB Bank n.a. lifted its stake in Range Resources by 59.0% during 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 acquiring an additional 426 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the 4th quarter valued at $46,000. Blue Trust Inc. increased its stake in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Price Performance

Shares of Range Resources stock opened at $37.94 on Tuesday. The stock has a market capitalization of $9.16 billion, a P/E ratio of 19.16, a PEG ratio of 5.11 and a beta of 1.78. The business has a 50 day simple moving average of $37.65 and a two-hundred day simple moving average of $33.77. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RRC. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. Stephens raised their target price on Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group boosted their price target on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Citigroup lifted their target price on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $38.78.

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.