Range Resources Co. (NYSE:RRC) Stock Position Increased by Lesa Sroufe & Co

Lesa Sroufe & Co raised its position in shares of Range Resources Co. (NYSE:RRC) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,850 shares of the oil and gas exploration company’s stock after acquiring an additional 3,363 shares during the period. Range Resources makes up about 4.1% of Lesa Sroufe & Co’s investment portfolio, making the stock its 3rd largest position. Lesa Sroufe & Co’s holdings in Range Resources were worth $4,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. bought a new position in Range Resources in the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Range Resources during the third quarter valued at $27,000. Proffitt & Goodson Inc. bought a new position in shares of Range Resources in the third quarter worth about $32,000. Larson Financial Group LLC increased its stake in Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 900 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RRC. Barclays began coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. StockNews.com upgraded Range Resources to a “sell” rating in a report on Wednesday, March 13th. Benchmark lowered Range Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Susquehanna upped their price objective on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Mizuho reiterated a “buy” rating and set a $39.00 target price on shares of Range Resources in a report on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.00.

Range Resources Stock Performance

Shares of RRC stock opened at $36.59 on Wednesday. Range Resources Co. has a 12-month low of $23.92 and a 12-month high of $37.88. The business’s fifty day simple moving average is $33.34 and its 200-day simple moving average is $32.33. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.86 billion, a PE ratio of 10.33 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Analysts expect that Range Resources Co. will post 1.9 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is currently 9.04%.

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.