Ingalls & Snyder LLC Has $28.45 Million Position in Range Resources Co. (NYSE:RRC)

Ingalls & Snyder LLC reduced its stake in Range Resources Co. (NYSE:RRC) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 790,625 shares of the oil and gas exploration company’s stock after selling 4,450 shares during the period. Range Resources accounts for approximately 1.1% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 19th biggest position. Ingalls & Snyder LLC’s holdings in Range Resources were worth $28,447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in shares of Range Resources in the third quarter valued at about $25,000. UMB Bank n.a. grew its stake in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the fourth quarter valued at about $46,000. Finally, Bogart Wealth LLC acquired a new position in shares of Range Resources in the third quarter valued at about $49,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Down 2.9 %

RRC opened at $38.43 on Thursday. The company’s 50 day moving average is $36.99 and its 200-day moving average is $33.24. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market cap of $9.27 billion, a P/E ratio of 19.41 and a beta of 1.77.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.83%. Range Resources’s dividend payout ratio is presently 16.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on RRC shares. The Goldman Sachs Group upped their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday. Benchmark restated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Barclays raised their target price on shares of Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.44.

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.