Sequoia Financial Advisors LLC Purchases Shares of 9,766 Range Resources Co. (NYSE:RRC)

Sequoia Financial Advisors LLC acquired a new position in shares of Range Resources Co. (NYSE:RRC) during the fourth quarter, HoldingsChannel reports. The firm acquired 9,766 shares of the oil and gas exploration company’s stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRC. Price T Rowe Associates Inc. MD increased its position in Range Resources by 143.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock worth $103,169,000 after buying an additional 2,296,114 shares during the last quarter. Renaissance Technologies LLC raised its stake in Range Resources by 55.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock valued at $106,067,000 after acquiring an additional 1,429,500 shares during the period. Morgan Stanley lifted its holdings in Range Resources by 34.0% during the 4th quarter. Morgan Stanley now owns 2,940,913 shares of the oil and gas exploration company’s stock valued at $73,582,000 after purchasing an additional 746,228 shares during the last quarter. Invesco Ltd. boosted its position in Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after purchasing an additional 693,970 shares during the period. Finally, PointState Capital LP acquired a new position in shares of Range Resources in the first quarter valued at $19,929,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE RRC opened at $35.27 on Friday. The firm’s 50 day simple moving average is $33.03 and its 200 day simple moving average is $32.25. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 9.96 and a beta of 1.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources Co. has a 1 year low of $23.92 and a 1 year high of $37.88.

Range Resources (NYSE:RRC) last issued its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. During the same quarter last year, the business posted $1.26 EPS. The company’s revenue was down 42.3% compared to the same quarter last year. As a group, research analysts expect that Range Resources Co. will post 1.91 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is 9.04%.

Analyst Upgrades and Downgrades

RRC has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on shares of Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Raymond James dropped their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Benchmark lowered Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Citigroup lifted their target price on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $35.80.

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.