Geneos Wealth Management Inc. Takes Position in Range Resources Co. (NYSE:RRC)

Geneos Wealth Management Inc. acquired a new position in Range Resources Co. (NYSE:RRC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,284 shares of the oil and gas exploration company’s stock, valued at approximately $46,000.

Several other institutional investors also recently bought and sold shares of RRC. M&T Bank Corp increased its stake in shares of 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 valued at $332,000 after buying an additional 327 shares during the period. Commerce Bank increased its position 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 valued at $211,000 after purchasing an additional 369 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Range Resources by 0.6% in the 4th 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 in the last quarter. UMB Bank n.a. lifted its position in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the period. Finally, Inscription Capital LLC increased its holdings in Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after buying an additional 433 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial raised their price objective on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Mizuho increased their price target on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Finally, Stephens raised their target price on shares of Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.00.

Range Resources Stock Performance

Shares of NYSE RRC opened at $36.97 on Friday. The company has a 50 day simple moving average of $36.54 and a two-hundred day simple moving average of $32.93. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 18.67 and a beta of 1.81. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

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.