Principal Financial Group Inc. Sells 6,990 Shares of Range Resources Co. (NYSE:RRC)

Principal Financial Group Inc. lessened its stake in shares of Range Resources Co. (NYSE:RRC) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 553,103 shares of the oil and gas exploration company’s stock after selling 6,990 shares during the quarter. Principal Financial Group Inc.’s holdings in Range Resources were worth $19,901,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. M&T Bank Corp lifted its holdings in Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares during the last quarter. Commerce Bank raised its position in shares of Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Range Resources by 0.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after buying an additional 420 shares during the period. UMB Bank n.a. boosted its holdings in shares of 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 worth $41,000 after buying an additional 426 shares during the period. Finally, Inscription Capital LLC grew its stake in Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after buying an additional 433 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RRC. UBS Group upped their price target on shares of 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 boosted their price objective on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Stephens raised their target price on Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com upgraded Range Resources to a “sell” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.78.

Range Resources Stock Down 1.4 %

NYSE RRC opened at $37.94 on Tuesday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 5.11 and a beta of 1.78. The stock’s 50 day moving average is $37.65 and its two-hundred day moving average is $33.77. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is 16.16%.

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.