Envestnet Portfolio Solutions Inc. Sells 542 Shares of Range Resources Co. (NYSE:RRC)

Envestnet Portfolio Solutions Inc. decreased its holdings in Range Resources Co. (NYSE:RRC) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,491 shares of the oil and gas exploration company’s stock after selling 542 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Range Resources were worth $305,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. M&T Bank Corp increased its position in shares of Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after acquiring an additional 327 shares during the period. Commerce Bank grew its position in shares of Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after buying an additional 369 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 378 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after acquiring an additional 379 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Range Resources by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock worth $1,130,000 after acquiring an additional 390 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stephens lifted their price objective on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. StockNews.com raised Range Resources from a “sell” rating to a “hold” rating in a research report on Thursday. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Finally, Piper Sandler lifted their target price on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.89.

Range Resources Trading Down 2.4 %

Shares of Range Resources stock opened at $38.86 on Friday. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The stock has a 50 day moving average of $38.56 and a 200 day moving average of $35.05. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 5.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter last year, the firm earned $0.63 EPS. As a group, research analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

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.