Range Resources Co. (NYSE:RRC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Range Resources Co. (NYSE:RRC) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 553,103 shares of the oil and gas exploration company’s stock after selling 6,990 shares during the period. Principal Financial Group Inc. owned 0.23% of Range Resources worth $19,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRC. Brooklyn Investment Group bought a new stake in shares of Range Resources during the third quarter valued at approximately $25,000. UMB Bank n.a. increased its position in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the period. Blue Trust Inc. raised its stake in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Range Resources during the 4th quarter worth $46,000. Finally, Versant Capital Management Inc grew its stake in shares of Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE RRC opened at $37.94 on Tuesday. 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 business’s 50-day moving average price is $37.65 and its two-hundred day moving average price is $33.77. The company has a market capitalization of $9.16 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. Range Resources’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RRC. Mizuho upped their price objective on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. UBS Group lifted their price target on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Stephens boosted their price objective on Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, January 3rd. Finally, Barclays boosted their price target on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.78.

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.