Cannell & Spears LLC Has $474,000 Stock Position in Range Resources Co. (NYSE:RRC)

Cannell & Spears LLC reduced its holdings in Range Resources Co. (NYSE:RRC) by 70.4% in the 4th quarter, Holdings Channel reports. The fund owned 13,183 shares of the oil and gas exploration company’s stock after selling 31,347 shares during the period. Cannell & Spears LLC’s holdings in Range Resources were worth $474,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Range Resources in the fourth quarter worth approximately $33,684,000. Amundi lifted its position in Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after buying an additional 826,530 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Telemark Asset Management LLC purchased a new stake in shares of Range Resources during the fourth quarter worth $14,392,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in Range Resources during the third quarter valued at $11,508,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Up 0.7 %

Shares of RRC stock opened at $40.21 on Wednesday. The stock has a 50 day moving average of $38.48 and a 200-day moving average of $35.37. The firm has a market cap of $9.70 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. 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.

Range Resources (NYSE:RRC) last released its earnings results 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. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the company earned $0.63 EPS. On average, equities analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Analyst Ratings Changes

RRC has been the topic of several research reports. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. UBS Group lifted their target price on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.60.

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.