T. Rowe Price Investment Management Inc. Decreases Stake in Range Resources Co. (NYSE:RRC)

T. Rowe Price Investment Management Inc. reduced its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,507,616 shares of the oil and gas exploration company's stock after selling 317,483 shares during the period. T. Rowe Price Investment Management Inc. owned about 6.43% of Range Resources worth $557,965,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after buying an additional 426 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $42,000. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc grew its holdings in Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after acquiring an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Performance

RRC traded up $0.36 on Monday, hitting $35.15. 704,368 shares of the company traded hands, compared to its average volume of 2,992,336. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a 50 day moving average of $36.72 and a 200-day moving average of $35.79. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $8.40 billion, a PE ratio of 17.73, a PEG ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the prior year, the business earned $0.63 earnings per share. Sell-side analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's payout ratio is 32.14%.

Analysts Set New Price Targets

Several research firms have recently issued reports on RRC. UBS Group lifted their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday. Raymond James upped their price objective on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Scotiabank lowered 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. Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Finally, Morgan Stanley set a $41.00 price objective on shares of Range Resources in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.50.

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.