Range Resources Co. (NYSE:RRC) Shares Purchased by Cannell & Co.

Cannell & Co. lifted its position in Range Resources Co. (NYSE:RRC - Free Report) by 890.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 116,400 shares of the oil and gas exploration company's stock after purchasing an additional 104,650 shares during the quarter. Cannell & Co.'s holdings in Range Resources were worth $3,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raleigh Capital Management Inc. bought a new position in Range Resources in the 3rd quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources during the third quarter worth $27,000. Larson Financial Group LLC lifted its stake in shares of Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company's stock valued at $40,000 after acquiring an additional 900 shares during the period. Fifth Third Bancorp lifted its holdings in Range Resources by 57.7% in 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 buying an additional 490 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Range Resources during the 3rd quarter worth $49,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company's stock, valued at $844,467.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.57% of the stock is owned by company insiders.

Range Resources Stock Up 1.3 %

Range Resources stock traded up $0.44 during mid-day trading on Thursday, reaching $34.99. The company's stock had a trading volume of 1,622,702 shares, compared to its average volume of 2,573,725. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 17.54 and a beta of 1.85. The business's 50 day simple moving average is $34.08 and its 200 day simple moving average is $32.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. Range Resources Co. has a 12 month low of $23.92 and a 12 month high of $38.25.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. As a group, research analysts anticipate that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.91%. Range Resources's dividend payout ratio is 16.24%.

Analyst Ratings Changes

RRC has been the topic of a number of analyst reports. Susquehanna increased their price target on Range Resources from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Monday, April 22nd. StockNews.com upgraded shares of Range Resources to a "sell" rating in a report on Wednesday, March 13th. Mizuho reissued a "buy" rating and issued a $41.00 price target (up previously from $39.00) on shares of Range Resources in a report on Friday, April 26th. Jefferies Financial Group raised their price objective on Range Resources from $32.00 to $34.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, Royal Bank of Canada cut Range Resources from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Friday, April 26th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Range Resources has an average rating of "Hold" and an average target price of $36.62.

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.