Miller Howard Investments Inc. NY Lowers Stake in Range Resources Co. (NYSE:RRC)

Miller Howard Investments Inc. NY cut its position in Range Resources Co. (NYSE:RRC) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,003 shares of the oil and gas exploration company’s stock after selling 2,713 shares during the period. Miller Howard Investments Inc. NY’s holdings in Range Resources were worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Range Resources in the 3rd quarter worth $25,000. UMB Bank n.a. boosted its stake in shares of Range Resources by 59.0% in the fourth 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. grew its position in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Range Resources during the 4th quarter valued at approximately $46,000. Finally, Bogart Wealth LLC purchased a new position in Range Resources in the 3rd quarter worth approximately $49,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Stephens boosted their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Barclays lifted their target price on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Citigroup increased their price target on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.00.

Range Resources Stock Down 1.1 %

Shares of NYSE RRC opened at $37.22 on Friday. The company has a market cap of $8.98 billion, a P/E ratio of 18.80 and a beta of 1.77. The firm has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $33.08. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, December 13th. Range Resources’s 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.