Range Resources Co. (NYSE:RRC) Position Boosted by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 423,822 shares of the oil and gas exploration company's stock after acquiring an additional 83,353 shares during the quarter. Ameriprise Financial Inc. owned about 0.18% of Range Resources worth $15,249,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of RRC. CIBC Asset Management Inc raised its stake in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock valued at $268,000 after purchasing an additional 378 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after purchasing an additional 379 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after purchasing an additional 390 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Range Resources by 0.6% during the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after purchasing an additional 395 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of 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 valued at $2,397,000 after purchasing an additional 420 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Up 0.2%

NYSE RRC traded up $0.09 on Friday, hitting $39.50. 1,366,893 shares of the company were exchanged, compared to its average volume of 2,468,791. The company's 50 day moving average price is $36.67 and its 200-day moving average price is $36.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $9.44 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to the consensus estimate 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 company earned $0.63 EPS. Analysts predict that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is presently 32.14%.

Insider Buying and Selling at Range Resources

In other Range Resources news, SVP Erin W. Mcdowell sold 9,568 shares of Range Resources stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the transaction, the senior vice president now owns 13,800 shares of the company's stock, valued at $560,556. The trade was a 40.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer now directly owns 58,431 shares in the company, valued at approximately $2,361,781.02. This trade represents a 38.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,880 shares of company stock valued at $2,815,807 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RRC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $43.00 to $45.00 in a research note on Thursday, March 13th. The Goldman Sachs Group lifted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Morgan Stanley set a $41.00 price target on shares of Range Resources in a research report on Tuesday, April 15th. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Williams Trading set a $40.00 price target on shares of Range Resources in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $41.95.

Range Resources 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.