Range Resources Co. (NYSE:RRC) Shares Purchased by Lingotto Investment Management LLP

Lingotto Investment Management LLP raised its position in Range Resources Co. (NYSE:RRC) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,864,038 shares of the oil and gas exploration company’s stock after buying an additional 165,242 shares during the quarter. Range Resources makes up approximately 6.6% of Lingotto Investment Management LLP’s portfolio, making the stock its 4th biggest position. Lingotto Investment Management LLP owned approximately 2.84% of Range Resources worth $246,968,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. M&T Bank Corp increased its stake in Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 327 shares in the last quarter. Commerce Bank raised its stake in shares of 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 worth $211,000 after buying an additional 369 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after acquiring an additional 378 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Range Resources by 0.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after acquiring an additional 420 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of 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 valued at $41,000 after purchasing an additional 426 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RRC. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a research note on Friday, January 17th. Stephens boosted their target price on shares of Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Mizuho upped their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.78.

Range Resources Price Performance

RRC opened at $37.53 on Wednesday. The company has a 50 day moving average of $37.71 and a two-hundred day moving average of $33.83. Range Resources Co. has a 52-week low of $27.29 and a 52-week 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 market cap of $9.06 billion, a P/E ratio of 18.95, a P/E/G ratio of 5.11 and a beta of 1.78.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, analysts expect that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. Range Resources’s dividend payout ratio is currently 16.16%.

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.