Oarsman Capital Inc. Sells 450 Shares of Range Resources Co. (NYSE:RRC)

Oarsman Capital Inc. lowered its position in Range Resources Co. (NYSE:RRC) by 5.7% during the fourth quarter, Holdings Channel reports. The firm owned 7,475 shares of the oil and gas exploration company’s stock after selling 450 shares during the period. Oarsman Capital Inc.’s holdings in Range Resources were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RRC. M&T Bank Corp lifted its holdings in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares during the period. CIBC Asset Management Inc raised its position in shares of Range Resources by 5.4% in the 4th 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 in the last quarter. Commonwealth Equity Services LLC raised its position in shares of 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 acquiring an additional 379 shares in the last quarter. King Luther Capital Management Corp lifted its stake 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 valued at $1,130,000 after purchasing an additional 390 shares during the period. Finally, Arizona State Retirement System boosted its position 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. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on RRC. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Friday, January 3rd. Williams Trading set a $40.00 price target on shares of Range Resources in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upgraded shares of Range Resources from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus target price of $41.60.

Range Resources Stock Performance

Shares of RRC opened at $33.51 on Friday. 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 quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50 day moving average price of $38.29 and a two-hundred day moving average price of $35.50. The firm has a market capitalization of $8.09 billion, a P/E ratio of 16.92, a P/E/G ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period in the prior year, the firm posted $0.63 EPS. Equities analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 32.73%.

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.