Goehring & Rozencwajg Associates LLC Trims Position in Range Resources Co. (NYSE:RRC)

Goehring & Rozencwajg Associates LLC lowered its position in Range Resources Co. (NYSE:RRC) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,409,973 shares of the oil and gas exploration company’s stock after selling 25,603 shares during the period. Range Resources comprises 9.4% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its largest position. Goehring & Rozencwajg Associates LLC’s holdings in Range Resources were worth $46,416,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp lifted its stake in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares in the last quarter. Commerce Bank lifted its position in Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after acquiring an additional 369 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Range Resources by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after purchasing an additional 420 shares during the period. UMB Bank n.a. increased its holdings in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares in the last quarter. Finally, Inscription Capital LLC raised its stake in shares of Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE RRC opened at $37.22 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $8.98 billion, a P/E ratio of 18.80 and a beta of 1.78. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The stock has a 50 day moving average of $36.73 and a 200-day moving average of $33.08.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Range Resources’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Friday, January 3rd. UBS Group raised shares of Range Resources from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Royal Bank of Canada reaffirmed 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, Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.