Phocas Financial Corp. Trims Holdings in Range Resources Co. (NYSE:RRC)

Phocas Financial Corp. decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 85.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,310 shares of the oil and gas exploration company’s stock after selling 194,312 shares during the period. Phocas Financial Corp.’s holdings in Range Resources were worth $1,163,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Range Resources in the third quarter valued at approximately $25,000. UMB Bank n.a. increased its stake 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 acquiring an additional 426 shares during the period. Blue Trust Inc. increased its stake 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 acquiring an additional 705 shares during the period. Geneos Wealth Management Inc. acquired a new position in Range Resources during the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc boosted 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 valued at $56,000 after buying an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Down 1.2 %

Shares of RRC stock opened at $37.53 on Wednesday. The firm’s 50 day moving average price is $37.71 and its two-hundred day moving average price is $33.83. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78.

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

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.85%. Range Resources’s payout ratio is 16.16%.

Wall Street Analyst Weigh In

RRC has been the subject of a number of recent analyst reports. 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. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group upped their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Finally, Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Three equities research 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.com, Range Resources currently has an average rating of “Hold” and an average target price 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.