Range Resources Co. (NYSE:RRC) Stock Holdings Raised by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Range Resources Co. (NYSE:RRC) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,652 shares of the oil and gas exploration company’s stock after purchasing an additional 10,775 shares during the period. Raymond James & Associates owned about 0.10% of Range Resources worth $8,371,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TFO Wealth Partners LLC grew its position in shares of Range Resources by 302,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 21,187 shares of the oil and gas exploration company’s stock worth $645,000 after acquiring an additional 21,180 shares in the last quarter. DRW Securities LLC lifted its stake in Range Resources by 150.0% during the fourth quarter. DRW Securities LLC now owns 50,000 shares of the oil and gas exploration company’s stock worth $1,522,000 after purchasing an additional 30,000 shares during the last quarter. Norden Group LLC boosted its holdings in Range Resources by 1,599.9% in the first quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock worth $5,154,000 after purchasing an additional 140,891 shares during the period. Dimensional Fund Advisors LP increased its stake in Range Resources by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after purchasing an additional 90,028 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Range Resources by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after purchasing an additional 16,619 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Down 0.9 %

Shares of RRC stock opened at $30.29 on Tuesday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The business’s fifty day moving average is $32.20 and its 200-day moving average is $33.72. The stock has a market cap of $7.35 billion, a PE ratio of 15.38 and a beta of 1.88.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same period in the previous year, the company earned $0.27 earnings per share. Range Resources’s revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Range Resources Co. will post 2.08 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s dividend payout ratio is presently 16.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RRC shares. Piper Sandler downgraded shares of Range Resources from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Jefferies Financial Group lifted their target price on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. 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. Finally, Wells Fargo & Company lowered their price objective on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $37.11.

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.