Goehring & Rozencwajg Associates LLC Lowers Stock Position in Range Resources Co. (NYSE:RRC)

Goehring & Rozencwajg Associates LLC trimmed its holdings in shares of Range Resources Co. (NYSE:RRC) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,409,973 shares of the oil and gas exploration company’s stock after selling 25,603 shares during the period. Range Resources makes up about 9.4% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its biggest position. Goehring & Rozencwajg Associates LLC owned 0.58% of Range Resources worth $46,416,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC grew its position in Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after acquiring an additional 35,344 shares during the period. Canoe Financial LP grew its holdings in shares of Range Resources by 9.4% in 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 purchasing an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after purchasing an additional 92,217 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Range Resources by 61.9% during the 3rd 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, Vaughan Nelson Investment Management L.P. lifted its holdings in Range Resources by 0.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock valued at $36,820,000 after purchasing an additional 10,690 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Finally, Barclays upped their price target on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Range Resources has an average rating of “Hold” and an average target price of $38.00.

Range Resources Stock Performance

RRC stock opened at $37.22 on Friday. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. 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 company has a market cap of $8.98 billion, a P/E ratio of 18.80 and a beta of 1.78. The business’s fifty day moving average is $36.73 and its 200-day moving average is $33.08.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

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.