Moody Aldrich Partners LLC Acquires New Holdings in Range Resources Co. (NYSE:RRC)

Moody Aldrich Partners LLC bought a new stake in Range Resources Co. (NYSE:RRC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 9,421 shares of the oil and gas exploration company’s stock, valued at approximately $339,000.

Several other hedge funds have also recently bought and sold shares of RRC. Brooklyn Investment Group acquired a new stake in Range Resources in the 3rd quarter valued at about $25,000. UMB Bank n.a. lifted its position in 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 during the last quarter. Blue Trust Inc. boosted its position in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $46,000. Finally, Bogart Wealth LLC purchased a new position in Range Resources during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

RRC opened at $37.66 on Thursday. The company has a 50 day moving average of $36.47 and a two-hundred day moving average of $32.89. 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 company has a market cap of $9.09 billion, a P/E ratio of 19.02 and a beta of 1.81.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RRC. StockNews.com upgraded Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a research note on Tuesday, January 14th. Finally, Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a research note on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.67.

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.