Stifel Financial Corp Raises Stock Holdings in Range Resources Co. (NYSE:RRC)

Stifel Financial Corp raised its stake in Range Resources Co. (NYSE:RRC) by 121.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,701 shares of the oil and gas exploration company’s stock after purchasing an additional 87,716 shares during the period. Stifel Financial Corp’s holdings in Range Resources were worth $5,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Range Resources in the 4th quarter valued at about $33,684,000. Amundi boosted its stake in Range Resources by 233.2% in the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after acquiring an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after purchasing an additional 624,955 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after purchasing an additional 604,199 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Range Resources during the 4th quarter valued at $16,659,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Down 0.5 %

Shares of RRC opened at $35.06 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $8.38 billion, a P/E ratio of 17.71, a PEG ratio of 5.11 and a beta of 1.73. The stock’s 50 day moving average is $36.54 and its two-hundred day moving average is $35.81. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last issued 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 company had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the previous year, the firm earned $0.63 EPS. Analysts predict 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. Investors of record on Friday, March 14th were paid a $0.09 dividend. 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. This represents a $0.36 dividend on an annualized basis and a yield of 1.03%. Range Resources’s dividend payout ratio (DPR) is currently 32.14%.

Wall Street Analyst Weigh In

RRC has been the topic of several recent analyst reports. Raymond James upped their target price on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Williams Trading set a $40.00 price objective on shares of Range Resources in a report on Wednesday, March 5th. Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Range Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price objective on shares of Range Resources in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $41.50.

About Range Resources

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.