Segall Bryant & Hamill LLC Sells 129,591 Shares of Range Resources Co. (NYSE:RRC)

Segall Bryant & Hamill LLC lessened its stake in shares of Range Resources Co. (NYSE:RRC) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 834,211 shares of the oil and gas exploration company’s stock after selling 129,591 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.35% of Range Resources worth $30,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Range Resources during the 3rd quarter valued at $25,000. Smartleaf Asset Management LLC boosted its holdings in shares of Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% during 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 purchasing an additional 426 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Range Resources in the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc increased its holdings in Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares during the period. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RRC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. Citigroup cut Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. StockNews.com lowered shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Mizuho boosted their target price on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Barclays set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.95.

Range Resources Stock Performance

NYSE:RRC opened at $40.64 on Tuesday. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The firm has a market capitalization of $9.81 billion, a PE ratio of 20.52, a P/E/G ratio of 5.11 and a beta of 1.80. The stock has a 50-day simple moving average of $38.60 and a two-hundred day simple moving average of $34.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.63 earnings per share. Analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

Range Resources 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.