Fielder Capital Group LLC Buys New Stake in Range Resources Co. (NYSE:RRC)

Fielder Capital Group LLC bought a new position in shares of Range Resources Co. (NYSE:RRC) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 112,393 shares of the oil and gas exploration company’s stock, valued at approximately $4,044,000. Range Resources comprises approximately 1.3% of Fielder Capital Group LLC’s portfolio, making the stock its 26th largest position.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in 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 during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Range Resources in the third quarter valued at approximately $11,508,000. Verition Fund Management LLC increased its stake in Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock worth $12,594,000 after buying an additional 324,011 shares during the period. Canoe Financial LP lifted its holdings in Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after buying an additional 251,200 shares in the last quarter. Finally, Lingotto Investment Management LLP boosted its position in Range Resources by 2.5% in the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after buying an additional 165,242 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of RRC opened at $36.41 on Friday. The firm has a fifty day moving average price of $37.89 and a 200 day moving average price of $33.88. The stock has a market cap of $8.79 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 5.11 and a beta of 1.77. Range Resources Co. has a 1-year low of $27.29 and a 1-year 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.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 the consensus estimate 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 in the previous year, the business earned $0.63 EPS. As a group, sell-side analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group upped their price target on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Citigroup boosted their price objective on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens raised their target price on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.00.

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.