TCW Group Inc. Raises Holdings in Range Resources Co. (NYSE:RRC)

TCW Group Inc. grew its holdings in Range Resources Co. (NYSE:RRC) by 4.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 39,989 shares of the oil and gas exploration company’s stock after buying an additional 1,720 shares during the quarter. TCW Group Inc.’s holdings in Range Resources were worth $1,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after buying an additional 35,344 shares during the period. Canoe Financial LP raised its position in shares of Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after acquiring an additional 251,200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after acquiring an additional 92,217 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Range Resources by 0.9% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock worth $36,820,000 after acquiring an additional 10,690 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

NYSE:RRC opened at $37.94 on Tuesday. 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 business’s 50-day simple moving average is $37.65 and its two-hundred day simple moving average is $33.77. The stock has a market cap of $9.16 billion, a PE ratio of 19.16, a P/E/G ratio of 5.11 and a beta of 1.78.

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 paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.84%. Range Resources’s payout ratio is currently 16.16%.

Analyst Ratings Changes

RRC has been the subject of several research reports. Barclays increased their target price on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research report on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a research report on Tuesday, January 14th. Finally, 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. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.78.

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.