PNC Financial Services Group Inc. reduced its stake in shares of Range Resources Corp. (NYSE:RRC) by 36.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,818 shares of the oil and gas exploration company’s stock after selling 39,357 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Range Resources were worth $649,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC grew its stake in shares of Range Resources by 8.5% during the fourth quarter. Ingalls & Snyder LLC now owns 1,045,053 shares of the oil and gas exploration company’s stock valued at $10,001,000 after purchasing an additional 81,479 shares during the last quarter. Palo Capital Inc. bought a new stake in shares of Range Resources during the third quarter valued at approximately $198,000. Rockshelter Capital Management LLC boosted its stake in Range Resources by 134.6% in the third quarter. Rockshelter Capital Management LLC now owns 330,477 shares of the oil and gas exploration company’s stock valued at $5,615,000 after acquiring an additional 189,622 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Range Resources by 3,486.5% in the third quarter. Glenmede Trust Co. NA now owns 136,287 shares of the oil and gas exploration company’s stock valued at $2,315,000 after acquiring an additional 132,487 shares during the last quarter. Finally, Financial Architects Inc boosted its stake in Range Resources by 375.1% in the fourth quarter. Financial Architects Inc now owns 31,093 shares of the oil and gas exploration company’s stock valued at $298,000 after acquiring an additional 24,548 shares during the last quarter.
RRC has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. TD Securities raised shares of Range Resources from a “hold” rating to a “buy” rating and reduced their price objective for the company from $19.00 to $15.00 in a research note on Monday, January 7th. Bank of America cut shares of Range Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Capital One Financial cut shares of Range Resources from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Finally, Stephens initiated coverage on shares of Range Resources in a research note on Thursday, December 6th. They issued an “equal weight” rating and a $21.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. Range Resources has an average rating of “Hold” and a consensus target price of $18.37.
Shares of NYSE RRC opened at $10.52 on Friday. The firm has a market cap of $2.63 billion, a PE ratio of 9.31, a PEG ratio of 1.19 and a beta of 1.15. Range Resources Corp. has a twelve month low of $9.22 and a twelve month high of $18.59. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 0.95.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, February 25th. The oil and gas exploration company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $736.35 million. Range Resources had a negative net margin of 53.20% and a positive return on equity of 5.20%. The business’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. As a group, equities analysts anticipate that Range Resources Corp. will post 0.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.76%. Range Resources’s dividend payout ratio is 7.08%.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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