Cetera Investment Advisers grew its position in Range Resources Co. (NYSE:RRC – Free Report) by 906.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,940 shares of the oil and gas exploration company’s stock after acquiring an additional 81,004 shares during the quarter. Cetera Investment Advisers’ holdings in Range Resources were worth $3,097,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. SYSTM Wealth Solutions LLC increased its stake in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares during the last quarter. Orser Capital Management LLC grew its position in shares of Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock worth $317,000 after acquiring an additional 431 shares during the period. Lmcg Investments LLC lifted its holdings in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after acquiring an additional 546 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after acquiring an additional 579 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.
Range Resources Stock Performance
Shares of NYSE:RRC opened at $29.82 on Friday. The stock has a market capitalization of $7.24 billion, a P/E ratio of 15.14 and a beta of 1.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The business has a 50-day moving average price of $33.50 and a two-hundred day moving average price of $33.58.
Range Resources (NYSE:RRC – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. Equities analysts predict that Range Resources Co. will post 2.08 earnings per share for the current year.
Range Resources Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.
Insider Activity at Range Resources
In other news, CEO Dennis Degner sold 101,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the completion of the transaction, the chief executive officer now directly owns 198,154 shares in the company, valued at $7,486,258.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Erin W. Mcdowell sold 18,028 shares of Range Resources stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $36.91, for a total transaction of $665,413.48. Following the sale, the senior vice president now directly owns 40,175 shares in the company, valued at approximately $1,482,859.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the sale, the chief executive officer now directly owns 198,154 shares in the company, valued at $7,486,258.12. The disclosure for this sale can be found here. Insiders sold a total of 181,129 shares of company stock valued at $6,775,926 in the last quarter. Insiders own 1.57% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Susquehanna cut their price target on Range Resources from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Stephens increased their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Piper Sandler boosted their target price on shares of Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group raised their price target on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus price target of $37.30.
Read Our Latest Report on Range Resources
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.
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