Oppenheimer & Co. Inc. Acquires Shares of 27,407 Range Resources Co. (NYSE:RRC)

Oppenheimer & Co. Inc. bought a new stake in shares of Range Resources Co. (NYSE:RRC) during the fourth quarter, Holdings Channel.com reports. The fund bought 27,407 shares of the oil and gas exploration company’s stock, valued at approximately $986,000.

A number of other institutional investors have also recently modified their holdings of the business. Lingotto Investment Management LLP grew its position in shares of Range Resources by 2.5% during 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 acquiring an additional 165,242 shares during the period. Geode Capital Management LLC grew its position in shares of Range Resources by 0.9% during the 3rd 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 position in shares of 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 valued at $104,595,000 after acquiring an additional 251,200 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Range Resources by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after acquiring an additional 92,217 shares during the period. Finally, JPMorgan Chase & Co. grew 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 valued at $48,588,000 after acquiring an additional 604,199 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group lifted their price objective on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a report on Friday, January 17th. Finally, Mizuho lifted their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.00.

Range Resources Trading Up 3.0 %

Shares of Range Resources stock opened at $37.91 on Wednesday. The stock has a market cap of $9.15 billion, a P/E ratio of 19.14, a P/E/G ratio of 5.11 and a beta of 1.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s 50 day simple moving average is $38.08 and its 200-day simple moving average is $34.08. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95.

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 the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million for 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 company earned $0.63 EPS. Analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s payout ratio is presently 29.09%.

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.