Ingalls & Snyder LLC Sells 50,450 Shares of Range Resources Co. (NYSE:RRC)

Ingalls & Snyder LLC cut its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 881,250 shares of the oil and gas exploration company's stock after selling 50,450 shares during the period. Range Resources makes up 1.2% of Ingalls & Snyder LLC's portfolio, making the stock its 16th largest position. Ingalls & Snyder LLC owned 0.37% of Range Resources worth $26,825,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in shares of Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company's stock valued at $43,000 after acquiring an additional 490 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in shares of Range Resources by 7.0% during the third quarter. Alliance Wealth Advisors LLC UT now owns 9,972 shares of the oil and gas exploration company's stock valued at $323,000 after acquiring an additional 652 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Range Resources by 37.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,564 shares of the oil and gas exploration company's stock valued at $68,000 after acquiring an additional 700 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Range Resources during the third quarter valued at about $26,000. Finally, Arizona State Retirement System raised its stake in shares of Range Resources by 1.2% during the third quarter. Arizona State Retirement System now owns 68,702 shares of the oil and gas exploration company's stock valued at $2,227,000 after acquiring an additional 819 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Down 0.1 %

RRC traded down $0.02 during midday trading on Friday, reaching $36.01. The company's stock had a trading volume of 2,263,298 shares, compared to its average volume of 2,580,885. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 10.17 and a beta of 1.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources Co. has a 1 year low of $23.92 and a 1 year high of $37.88. The stock's 50-day moving average is $32.35 and its 200-day moving average is $32.14.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, beating 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 firm had revenue of $941.40 million for the quarter, compared to analysts' expectations of $672.25 million. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business's revenue for the quarter was down 42.3% on a year-over-year basis. As a group, research analysts expect that Range Resources Co. will post 1.92 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources's payout ratio is 9.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RRC shares. Susquehanna reaffirmed a "neutral" rating and set a $34.00 price objective (down from $43.00) on shares of Range Resources in a research note on Friday, January 26th. Mizuho reissued a "buy" rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday. Benchmark downgraded shares of Range Resources from a "buy" rating to a "hold" rating in a research note on Thursday, January 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price target on shares of Range Resources in a research note on Tuesday. Finally, Raymond James decreased their price target on shares of Range Resources from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.25.

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.

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