Callan Family Office LLC Makes New Investment in Range Resources Co. (NYSE:RRC)

Callan Family Office LLC acquired a new position in shares of Range Resources Co. (NYSE:RRC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,843 shares of the oil and gas exploration company’s stock, valued at approximately $282,000.

Several other hedge funds also recently made changes to their positions in the company. Lingotto Investment Management LLP grew its holdings in shares of Range Resources by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after purchasing an additional 165,242 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Range Resources by 0.9% during the third 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 last quarter. Canoe Financial LP grew its holdings in shares of Range Resources by 9.4% during the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after buying an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Range Resources by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company’s stock worth $76,011,000 after buying an additional 94,898 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after buying an additional 604,199 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

RRC stock opened at $36.51 on Tuesday. The firm has a 50 day moving average of $38.17 and a 200-day moving average of $34.23. 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 company has a market cap of $8.81 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the previous year, the firm posted $0.63 EPS. As a group, equities analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Range Resources’s payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of research reports. Stephens raised their price target on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Barclays set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. StockNews.com lowered Range Resources from a “hold” rating to a “sell” rating in a report on Friday. Williams Trading set a $40.00 price objective on Range Resources in a report on Wednesday, March 5th. Finally, Citigroup lowered Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.11.

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.