Mint Tower Capital Management B.V. Sells 25,000 Shares of Range Resources Co. (NYSE:RRC)

Mint Tower Capital Management B.V. reduced its holdings in shares of Range Resources Co. (NYSE:RRC) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,000 shares of the oil and gas exploration company’s stock after selling 25,000 shares during the period. Mint Tower Capital Management B.V.’s holdings in Range Resources were worth $900,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Range Resources in the 3rd quarter worth $25,000. Smartleaf Asset Management LLC grew its holdings in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. increased its position in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources during the 4th quarter valued at about $46,000. Finally, Versant Capital Management Inc grew its stake in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Down 0.7 %

RRC opened at $39.84 on Thursday. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. 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 stock has a 50-day moving average of $38.60 and a 200 day moving average of $35.02. The firm has a market cap of $9.62 billion, a P/E ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping 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 firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

A number of equities research analysts have commented on RRC shares. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a research note on Friday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a research note on Tuesday, January 14th. StockNews.com lowered Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Mizuho upped their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Stephens increased their target price on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.89.

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.