Range Resources Co. (NYSE:RRC) Shares Acquired by Mariner Investment Group LLC

Mariner Investment Group LLC increased its holdings in shares of Range Resources Co. (NYSE:RRC) by 28.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,000 shares of the oil and gas exploration company’s stock after purchasing an additional 10,000 shares during the period. Range Resources accounts for 0.3% of Mariner Investment Group LLC’s investment portfolio, making the stock its 12th largest holding. Mariner Investment Group LLC’s holdings in Range Resources were worth $1,619,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of Range Resources during the third quarter worth $25,000. UMB Bank n.a. lifted its stake in shares of Range Resources by 59.0% in 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 acquiring an additional 426 shares during the period. Blue Trust Inc. boosted its holdings in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at about $46,000. Finally, Bogart Wealth LLC acquired a new position in shares of Range Resources during the third quarter worth about $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RRC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a report on Tuesday, January 14th. Mizuho lifted their price target on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. UBS Group upgraded 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 report on Monday, December 9th. Stephens boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.22.

Range Resources Stock Performance

NYSE RRC opened at $40.16 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The business has a fifty day moving average of $36.30 and a 200-day moving average of $32.81. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 20.28 and a beta of 1.81.

Range Resources Dividend Announcement

The company also recently announced 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 was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

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.