GAMMA Investing LLC Has $158,000 Stake in Range Resources Co. (NYSE:RRC)

GAMMA Investing LLC lifted its stake in shares of Range Resources Co. (NYSE:RRC) by 36.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,391 shares of the oil and gas exploration company’s stock after buying an additional 1,172 shares during the quarter. GAMMA Investing LLC’s holdings in Range Resources were worth $158,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RRC. Arizona State Retirement System increased its position in shares of Range Resources by 2.2% during the second quarter. Arizona State Retirement System now owns 67,781 shares of the oil and gas exploration company’s stock worth $2,273,000 after acquiring an additional 1,465 shares in the last quarter. Choreo LLC bought a new stake in Range Resources during the 2nd quarter worth approximately $213,000. Texas Permanent School Fund Corp raised its stake in shares of Range Resources by 1.1% in the second quarter. Texas Permanent School Fund Corp now owns 213,481 shares of the oil and gas exploration company’s stock worth $7,158,000 after purchasing an additional 2,293 shares during the last quarter. Brasada Capital Management LP bought a new position in shares of Range Resources in the second quarter valued at approximately $671,000. Finally, NINE MASTS CAPITAL Ltd purchased a new position in shares of Range Resources during the second quarter valued at approximately $369,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on RRC shares. Citigroup increased their target price on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Stephens increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America initiated coverage on Range Resources in a research note on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price on the stock. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.32.

Insiders Place Their Bets

In other news, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $37.41 on Thursday. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 18.89 and a beta of 1.81. The stock has a fifty day moving average of $34.48 and a 200 day moving average of $32.31. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. 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 (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. The company had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. As a group, research analysts expect that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

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.