Nisa Investment Advisors LLC Sells 14,425 Shares of Range Resources Co. (NYSE:RRC)

Nisa Investment Advisors LLC cut its stake in shares of Range Resources Co. (NYSE:RRC) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,495 shares of the oil and gas exploration company’s stock after selling 14,425 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Range Resources were worth $2,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. grew its stake in shares of Range Resources by 56.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company’s stock valued at $28,964,000 after acquiring an additional 343,541 shares during the period. International Assets Investment Management LLC grew its stake in shares of Range Resources by 2,944.0% during the 4th quarter. International Assets Investment Management LLC now owns 60,880 shares of the oil and gas exploration company’s stock valued at $2,000,000 after acquiring an additional 58,880 shares during the period. Spirit of America Management Corp NY bought a new position in shares of Range Resources during the 4th quarter valued at approximately $335,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Range Resources by 16.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 33,440 shares of the oil and gas exploration company’s stock worth $1,018,000 after purchasing an additional 4,832 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Range Resources by 121.4% in the 4th quarter. Raymond James & Associates now owns 232,854 shares of the oil and gas exploration company’s stock worth $7,088,000 after purchasing an additional 127,658 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RRC. Citigroup boosted their price target on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Morgan Stanley boosted their price target on Range Resources from $22.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. Benchmark cut Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Mizuho reissued a “buy” rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday. Finally, Barclays assumed coverage on Range Resources in a report on Wednesday. They issued an “underweight” rating and a $35.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.25.

Range Resources Stock Performance

NYSE RRC opened at $36.01 on Friday. The company has a market cap of $8.72 billion, a P/E ratio of 10.17 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50 day moving average price is $32.35 and its 200-day moving average price is $32.14. Range Resources Co. has a fifty-two week low of $23.92 and a fifty-two week high of $37.88.

Range Resources (NYSE:RRC) last released its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.21. The firm had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company’s revenue for the quarter was down 42.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. Sell-side analysts predict that Range Resources Co. will post 1.92 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 9.04%.

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.