Ceredex Value Advisors LLC Has $17.62 Million Stock Position in Range Resources Co. (NYSE:RRC)

Ceredex Value Advisors LLC cut its stake in shares of Range Resources Co. (NYSE:RRC) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 489,750 shares of the oil and gas exploration company’s stock after selling 14,500 shares during the period. Ceredex Value Advisors LLC owned approximately 0.20% of Range Resources worth $17,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RRC. Boston Partners grew its position in shares of Range Resources by 4.9% during the 4th 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. Lingotto Investment Management LLP boosted its stake in Range Resources by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after acquiring an additional 165,242 shares during the last quarter. Geode Capital Management LLC grew its holdings in Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after purchasing an additional 35,344 shares during the period. Canoe Financial LP increased its stake in Range Resources by 9.4% in the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after purchasing an additional 251,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Range Resources by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company’s stock worth $76,011,000 after purchasing an additional 94,898 shares during the period. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

NYSE:RRC opened at $33.37 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The stock’s 50 day moving average price is $37.51 and its two-hundred day moving average price is $35.63. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period in the previous year, the company earned $0.63 earnings per share. On average, analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.09 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 1.08%. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Analysts Set New Price Targets

RRC has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Benchmark restated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. StockNews.com cut Range Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley set a $41.00 target price on shares of Range Resources in a report on Tuesday. Finally, UBS Group reduced their price target on shares of Range Resources from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.43.

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.