Range Resources Co. (NYSE:RRC) Position Trimmed by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY trimmed its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 51.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,501 shares of the oil and gas exploration company's stock after selling 44,332 shares during the period. Miller Howard Investments Inc. NY's holdings in Range Resources were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. purchased a new position in Range Resources in the 3rd quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources during the 3rd quarter valued at $27,000. Lazard Asset Management LLC purchased a new stake in Range Resources during the 2nd quarter worth about $28,000. Proffitt & Goodson Inc. bought a new position in Range Resources in the 3rd quarter worth about $32,000. Finally, Larson Financial Group LLC grew its holdings in Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company's stock valued at $40,000 after buying an additional 900 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Up 0.3 %

RRC traded up $0.12 during trading hours on Wednesday, reaching $36.32. 1,677,713 shares of the company's stock traded hands, compared to its average volume of 2,594,154. The firm has a 50-day moving average price of $31.92 and a 200 day moving average price of $32.04. The firm has a market capitalization of $8.79 billion, a PE ratio of 10.19 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources Co. has a 52-week low of $23.92 and a 52-week high of $37.88.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The business had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. During the same period in the prior year, the firm earned $1.26 EPS. The company's revenue for the quarter was down 42.3% compared to the same quarter last year. As a group, sell-side analysts predict that Range Resources Co. will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, March 14th. Range Resources's dividend payout ratio (DPR) is 9.04%.

Wall Street Analyst Weigh In

RRC has been the subject of a number of research reports. Susquehanna reiterated a "neutral" rating and issued a $34.00 price objective (down from $43.00) on shares of Range Resources in a report on Friday, January 26th. Scotiabank reduced their price target on shares of Range Resources from $43.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 16th. Stifel Nicolaus lowered their price objective on shares of Range Resources from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Morgan Stanley increased their target price on shares of Range Resources from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $36.00 price target on shares of Range Resources in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Range Resources currently has a consensus rating of "Hold" and a consensus target price of $35.00.

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.