Acorn Creek Capital LLC Reduces Position in Range Resources Co. (NYSE:RRC)

Acorn Creek Capital LLC lowered its holdings in Range Resources Co. (NYSE:RRC) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,319 shares of the oil and gas exploration company’s stock after selling 2,112 shares during the period. Acorn Creek Capital LLC’s holdings in Range Resources were worth $371,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp boosted its stake in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after acquiring an additional 327 shares during the period. Commerce Bank boosted its position in Range Resources by 5.7% during the 3rd 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 grew its stake in 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 last quarter. UMB Bank n.a. increased its position in Range Resources by 59.0% in the fourth 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 increased its position in Range Resources by 3.6% in the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after buying an additional 433 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Friday, January 3rd. Citigroup lifted their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.22.

Range Resources Trading Down 7.3 %

Shares of Range Resources stock opened at $37.24 on Tuesday. The stock has a market capitalization of $8.99 billion, a P/E ratio of 18.81 and a beta of 1.81. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $36.36 and a 200 day simple moving average of $32.84.

Range Resources Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, December 13th. Range Resources’s payout ratio is presently 16.16%.

About Range Resources

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.