Nuveen Asset Management LLC Has $16.18 Million Stock Position in Range Resources Co. (NYSE:RRC)

Nuveen Asset Management LLC grew its stake in shares of Range Resources Co. (NYSE:RRC) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 449,622 shares of the oil and gas exploration company’s stock after buying an additional 3,037 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.19% of Range Resources worth $16,177,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LPL Financial LLC increased its holdings in shares of Range Resources by 23.2% during the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock worth $4,095,000 after buying an additional 21,440 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Range Resources during the fourth quarter worth $380,000. Calamos Advisors LLC acquired a new position in shares of Range Resources during the fourth quarter worth $567,000. Sanctuary Advisors LLC increased its holdings in shares of Range Resources by 169.1% during the fourth quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company’s stock worth $674,000 after buying an additional 11,276 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Range Resources by 1.6% during the fourth quarter. Rhumbline Advisers now owns 663,320 shares of the oil and gas exploration company’s stock worth $23,866,000 after buying an additional 10,401 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James M. Funk sold 13,582 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the transaction, the director now directly owns 54,394 shares in the company, valued at $1,905,421.82. This trade represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the transaction, the senior vice president now owns 13,800 shares in the company, valued at approximately $560,556. This represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,880 shares of company stock worth $2,815,807 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $39.50 on Monday. The firm has a market capitalization of $9.44 billion, a P/E ratio of 19.95, a P/E/G ratio of 5.11 and a beta of 0.60. The firm’s 50-day moving average price is $36.67 and its 200-day moving average price is $36.74. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period in the prior year, the business earned $0.63 EPS. Equities research analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 32.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RRC. UBS Group upped their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price target on shares of Range Resources in a report on Friday, April 11th. Williams Trading set a $40.00 price objective on Range Resources in a report on Wednesday, March 5th. Raymond James increased their price objective on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Finally, Roth Mkm upgraded Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.95.

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.