Range Resources Corporation $RRC Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Range Resources Corporation (NYSE:RRC) by 348.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,885 shares of the oil and gas exploration company’s stock after purchasing an additional 16,229 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Range Resources were worth $786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its position in Range Resources by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock valued at $431,000 after buying an additional 315 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Range Resources by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 174,750 shares of the oil and gas exploration company’s stock valued at $7,107,000 after purchasing an additional 470 shares during the last quarter. Forum Financial Management LP boosted its stake in Range Resources by 6.4% in the 3rd quarter. Forum Financial Management LP now owns 8,594 shares of the oil and gas exploration company’s stock worth $323,000 after purchasing an additional 519 shares in the last quarter. True Wealth Design LLC grew its position in Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Range Resources by 1,464.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 703 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Up 1.0%

RRC stock opened at $37.82 on Friday. Range Resources Corporation has a one year low of $30.32 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average is $36.10 and its 200 day moving average is $36.12. The firm has a market cap of $8.96 billion, a PE ratio of 15.89, a P/E/G ratio of 0.34 and a beta of 0.51.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 12th. Range Resources’s payout ratio is currently 15.13%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRC. Royal Bank Of Canada reduced their target price on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $39.00 target price (down previously from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Zacks Research lowered shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Bank of America restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Finally, Citigroup cut their price objective on shares of Range Resources from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.22.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.