Trexquant Investment LP Sells 33,921 Shares of Range Resources Co. (NYSE:RRC)

Trexquant Investment LP trimmed its holdings in shares of Range Resources Co. (NYSE:RRC) by 18.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 149,778 shares of the oil and gas exploration company’s stock after selling 33,921 shares during the quarter. Trexquant Investment LP owned 0.06% of Range Resources worth $5,389,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Wellington Management Group LLP acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $33,684,000. Amundi increased its holdings in Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after purchasing an additional 826,530 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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. Telemark Asset Management LLC bought a new stake in shares of Range Resources in the fourth quarter valued at about $14,392,000. Finally, Boston Partners boosted its position in shares of Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after buying an additional 371,777 shares during the period. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on RRC shares. Citigroup cut Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Williams Trading set a $40.00 price objective on shares of Range Resources in a research report on Wednesday, March 5th. Raymond James increased their price objective on shares of Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and increased 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 issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $41.60.

Range Resources Trading Down 12.0 %

RRC stock 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 company’s 50-day simple moving average is $38.29 and its 200 day simple moving average is $35.46. The company has a market capitalization of $8.09 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

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 the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period last year, the firm earned $0.63 earnings per share. As a group, sell-side analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio is 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.