Acorn Creek Capital LLC Has $371,000 Stock Position in Range Resources Co. (NYSE:RRC)

Acorn Creek Capital LLC cut its stake in shares of Range Resources Co. (NYSE:RRC) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,319 shares of the oil and gas exploration company’s stock after selling 2,112 shares during the period. Acorn Creek Capital LLC’s holdings in Range Resources were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RRC. M&T Bank Corp boosted its holdings 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 buying an additional 327 shares during the last quarter. Commerce Bank boosted its stake in Range Resources by 5.7% during the 3rd 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 last quarter. Nisa Investment Advisors LLC grew its holdings 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 valued at $2,397,000 after purchasing an additional 420 shares during the period. UMB Bank n.a. increased its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Finally, Inscription Capital LLC raised its holdings in Range Resources by 3.6% in the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after purchasing an additional 433 shares during the period. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RRC. StockNews.com upgraded Range Resources to a “sell” rating in a report on Wednesday, November 27th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Wells Fargo & Company raised their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Stephens increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.22.

Range Resources Stock Performance

Shares of Range Resources stock opened at $37.24 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 fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a market capitalization of $8.99 billion, a P/E ratio of 18.81 and a beta of 1.81. The company’s 50 day moving average price is $36.36 and its two-hundred day moving average price is $32.84.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s dividend payout ratio is presently 16.16%.

About Range Resources

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.