Charles Schwab Investment Management Inc. Buys 94,898 Shares of Range Resources Co. (NYSE:RRC)

Charles Schwab Investment Management Inc. grew its stake in Range Resources Co. (NYSE:RRC) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,112,602 shares of the oil and gas exploration company’s stock after purchasing an additional 94,898 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of Range Resources worth $76,011,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. M&T Bank Corp increased its position in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after acquiring an additional 327 shares during the period. Commerce Bank increased its position in Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after acquiring an additional 369 shares during the period. CIBC Asset Management Inc increased its position in Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock worth $268,000 after acquiring an additional 378 shares during the period. Nisa Investment Advisors LLC increased its position in Range Resources by 0.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after acquiring an additional 420 shares during the period. Finally, UMB Bank n.a. increased its position in 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 acquiring an additional 426 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Up 3.7 %

NYSE:RRC opened at $36.51 on Tuesday. The firm’s 50 day simple moving average is $38.17 and its 200 day simple moving average is $34.23. 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 Co. has a one year low of $27.29 and a one year high of $41.95. The company has a market cap of $8.81 billion, a PE ratio of 18.44, a P/E/G ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the company earned $0.63 EPS. On average, research analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.99%. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent research reports. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Wells Fargo & Company raised their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Stephens raised their target price on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Mizuho raised their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Four equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.