Shell Asset Management Co. bought a new position in shares of Range Resources Co. (NYSE:RRC – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,290 shares of the oil and gas exploration company’s stock, valued at approximately $236,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Range Resources by 0.4% in the third quarter. Vanguard Group Inc. now owns 25,135,388 shares of the oil and gas exploration company’s stock valued at $634,920,000 after acquiring an additional 111,026 shares during the period. Exor Capital LLP raised its stake in shares of Range Resources by 2.5% in the fourth quarter. Exor Capital LLP now owns 6,347,163 shares of the oil and gas exploration company’s stock valued at $101,646,000 after purchasing an additional 157,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Range Resources by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,184,171 shares of the oil and gas exploration company’s stock valued at $181,816,000 after purchasing an additional 174,385 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Range Resources by 55.5% in the first quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock valued at $106,067,000 after purchasing an additional 1,429,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Range Resources by 143.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock valued at $103,169,000 after purchasing an additional 2,296,114 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently commented on RRC shares. StockNews.com lowered Range Resources from a “hold” rating to a “sell” rating in a research note on Sunday, October 29th. Stifel Nicolaus cut their target price on Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Susquehanna reissued a “neutral” rating and set a $34.00 price objective (down from $43.00) on shares of Range Resources in a report on Friday, January 26th. Scotiabank cut their price objective on Range Resources from $43.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, January 16th. Finally, Mizuho lifted their price objective on Range Resources from $40.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources has a consensus rating of “Hold” and an average price target of $35.00.
Range Resources Stock Performance
Shares of NYSE:RRC opened at $27.99 on Monday. The stock has a market capitalization of $6.75 billion, a P/E ratio of 5.02, a P/E/G ratio of 0.47 and a beta of 1.82. Range Resources Co. has a 1-year low of $22.61 and a 1-year high of $37.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $29.94 and a two-hundred day moving average price of $31.87.
Range Resources Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. Range Resources’s payout ratio is currently 5.73%.
Range Resources Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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