8,454 Shares in Range Resources Co. (NYSE:RRC) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new stake in Range Resources Co. (NYSE:RRC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,454 shares of the oil and gas exploration company’s stock, valued at approximately $304,000.

Several other large investors have also recently added to or reduced their stakes in the company. Canoe Financial LP grew its stake in shares of Range Resources by 114.9% in the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after acquiring an additional 1,422,200 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Range Resources by 61.9% in the third 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 buying an additional 604,199 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Range Resources in the third quarter valued at approximately $11,508,000. Verition Fund Management LLC boosted its stake in shares of Range Resources by 379.3% in the third quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock valued at $12,594,000 after buying an additional 324,011 shares during the period. Finally, Barclays PLC grew its position in Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after buying an additional 142,938 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Down 0.4 %

RRC opened at $39.55 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company’s 50 day moving average price is $36.92 and its two-hundred day moving average price is $33.20. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 19.97 and a beta of 1.77.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. Range Resources’s payout ratio is 16.16%.

Wall Street Analyst Weigh In

RRC has been the subject of a number of recent analyst reports. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, January 3rd. UBS Group upgraded shares of Range Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Wells Fargo & Company increased their price target 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. Finally, Citigroup boosted their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.00.

About Range Resources

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.