Susquehanna Fundamental Investments LLC Invests $2.48 Million in Range Resources Co. (NYSE:RRC)

Susquehanna Fundamental Investments LLC purchased a new position in Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 69,048 shares of the oil and gas exploration company's stock, valued at approximately $2,484,000.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after acquiring an additional 378 shares during the period. Commonwealth Equity Services LLC raised its holdings in Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock worth $508,000 after purchasing an additional 379 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Range Resources by 1.3% in the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock worth $1,130,000 after purchasing an additional 390 shares during the period. Arizona State Retirement System boosted its stake in shares of Range Resources by 0.6% during the 4th 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 increased its position 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 buying an additional 420 shares during the period. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of Range Resources stock traded down $0.16 during trading hours on Monday, reaching $34.85. The company's stock had a trading volume of 358,942 shares, compared to its average volume of 2,965,105. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The firm has a 50 day moving average price of $36.32 and a 200-day moving average price of $35.94. The stock has a market cap of $8.33 billion, a P/E ratio of 17.61, a P/E/G ratio of 5.11 and a beta of 0.60.

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, beating the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last year, the company earned $0.63 EPS. On average, analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio (DPR) is 32.14%.

Analyst Ratings Changes

Several brokerages have commented on RRC. Benchmark reissued a "hold" rating on shares of Range Resources in a research report on Friday, January 17th. Bank of America raised shares of Range Resources from a "neutral" rating to a "buy" rating and raised their target price for the company from $34.00 to $45.00 in a research note on Monday, January 13th. Barclays dropped their price target on Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Roth Mkm raised Range Resources from a "neutral" rating to a "buy" rating and raised their price objective for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Finally, Susquehanna dropped their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. 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 stock. According to MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and a consensus price target of $41.50.

Range Resources Company 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.