Fisher Asset Management LLC Sells 277,451 Shares of Range Resources Co. (NYSE:RRC)

Fisher Asset Management LLC cut its holdings in Range Resources Co. (NYSE:RRC) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,214,114 shares of the oil and gas exploration company’s stock after selling 277,451 shares during the period. Fisher Asset Management LLC owned 0.50% of Range Resources worth $36,958,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. increased its position in shares of Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after buying an additional 693,970 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Range Resources in the 3rd quarter valued at $19,704,000. Lord Abbett & CO. LLC grew its position in shares of Range Resources by 66.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock valued at $47,416,000 after purchasing an additional 585,000 shares in the last quarter. Canoe Financial LP increased its holdings in shares of Range Resources by 86.5% in the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after purchasing an additional 554,400 shares during the period. Finally, Boston Partners purchased a new stake in shares of Range Resources in the third quarter worth $10,590,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Up 2.1 %

NYSE:RRC opened at $35.71 on Friday. The firm has a market capitalization of $8.66 billion, a P/E ratio of 18.13 and a beta of 1.85. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $34.23 and a 200 day moving average of $32.46. Range Resources Co. has a 52 week low of $23.92 and a 52 week high of $38.25.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the prior year, the business posted $0.96 earnings per share. Range Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, research analysts predict that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Wall Street Analyst Weigh In

Several research firms recently commented on RRC. Susquehanna boosted their target price on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Royal Bank of Canada cut shares of Range Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $36.00 to $39.00 in a research report on Friday, April 26th. Raymond James lowered their target price on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Jefferies Financial Group boosted their price target on shares of Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their price objective on shares of Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.62.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the sale, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is owned by corporate insiders.

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.