Confluence Wealth Services Inc. Sells 5,809 Shares of Range Resources Co. (NYSE:RRC)

Confluence Wealth Services Inc. lessened its stake in Range Resources Co. (NYSE:RRC) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,279 shares of the oil and gas exploration company’s stock after selling 5,809 shares during the period. Confluence Wealth Services Inc.’s holdings in Range Resources were worth $370,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its position in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock worth $71,000 after acquiring an additional 1,694 shares during the last quarter. Creative Planning grew its stake in shares of Range Resources by 2.0% during the third quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company’s stock worth $1,745,000 after purchasing an additional 1,089 shares during the period. Acorn Creek Capital LLC bought a new stake in Range Resources in the third quarter valued at about $382,000. Blue Trust Inc. lifted its stake in 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 buying an additional 705 shares during the period. Finally, Raymond James & Associates boosted its holdings in Range Resources by 4.2% during the third quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company’s stock worth $7,999,000 after buying an additional 10,391 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RRC. Barclays increased their price target on shares of Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Friday, January 3rd. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.00.

Range Resources Trading Up 3.1 %

NYSE RRC opened at $38.92 on Thursday. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. 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 stock has a 50 day moving average of $36.66 and a 200-day moving average of $33.03. The company has a market cap of $9.39 billion, a PE ratio of 19.66 and a beta of 1.78.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio is currently 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.