Sequoia Financial Advisors LLC Makes New Investment in Range Resources Co. (NYSE:RRC)

Sequoia Financial Advisors LLC acquired a new position in shares of Range Resources Co. (NYSE:RRC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,766 shares of the oil and gas exploration company’s stock, valued at approximately $297,000.

A number of other large investors have also recently bought and sold shares of RRC. Raleigh Capital Management Inc. bought a new stake in Range Resources in the 3rd quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in Range Resources during the 3rd quarter worth $27,000. Lazard Asset Management LLC bought a new position in Range Resources in the 2nd quarter valued at about $28,000. Proffitt & Goodson Inc. bought a new position in shares of Range Resources in the third quarter valued at approximately $32,000. Finally, Larson Financial Group LLC boosted its stake in Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RRC. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Range Resources in a research report on Tuesday, April 9th. Benchmark downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Raymond James lowered their price objective on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Citigroup increased their target price on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Mizuho reiterated a “buy” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.80.

Range Resources Stock Performance

RRC stock opened at $35.27 on Friday. The firm has a 50 day moving average of $33.03 and a two-hundred day moving average of $32.25. Range Resources Co. has a 12 month low of $23.92 and a 12 month high of $37.88. The company 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 quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The firm had revenue of $941.40 million during the quarter, compared to analysts’ expectations of $672.25 million. During the same period in the prior year, the company posted $1.26 earnings per share. Range Resources’s revenue for the quarter was down 42.3% on a year-over-year basis. As a group, equities analysts anticipate that Range Resources Co. will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is 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.