Congress Wealth Management LLC DE Increases Stake in Range Resources Co. (NYSE:RRC)

Congress Wealth Management LLC DE lifted its position in Range Resources Co. (NYSE:RRC) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,037 shares of the oil and gas exploration company’s stock after acquiring an additional 5,160 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Range Resources were worth $2,844,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Range Resources in the 3rd quarter valued at about $25,000. Smartleaf Asset Management LLC raised its stake in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the period. Geneos Wealth Management Inc. bought a new stake in Range Resources during the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc increased its holdings in shares of Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Price Performance

Shares of NYSE RRC opened at $39.84 on Thursday. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.62 billion, a P/E ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80. The business’s 50 day moving average price is $38.60 and its 200 day moving average price is $35.02.

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 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 firm earned $0.63 EPS. On average, sell-side analysts expect that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RRC shares. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho upped their price target on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, Citigroup lowered Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.89.

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.