Range Resources Co. (NYSE:RRC) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 42.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,307 shares of the oil and gas exploration company's stock after purchasing an additional 24,417 shares during the quarter. Pinebridge Investments L.P.'s holdings in Range Resources were worth $2,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its holdings in Range Resources by 180.8% in the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after purchasing an additional 142,938 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Range Resources in the third quarter valued at approximately $205,000. Forthright Family Wealth Advisory LLC purchased a new stake in Range Resources in the 3rd quarter worth approximately $445,000. JPMorgan Chase & Co. increased its holdings in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after purchasing an additional 604,199 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after purchasing an additional 463 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

RRC has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Susquehanna cut their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Barclays cut their price target on shares of Range Resources from $43.00 to $39.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Scotiabank downgraded 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 report on Friday, January 17th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $42.00 price objective on shares of Range Resources in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.50.

Range Resources Stock Performance

Shares of RRC stock traded up $0.71 during midday trading on Friday, hitting $34.93. The company had a trading volume of 539,089 shares, compared to its average volume of 2,447,981. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. 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 company's 50 day simple moving average is $36.37 and its 200 day simple moving average is $35.82. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last announced 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the prior year, the firm earned $0.63 EPS. Research analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. 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 dividend payout ratio (DPR) is currently 32.14%.

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.