Range Resources Co. (NYSE:RRC) Stock Holdings Lessened by Moran Wealth Management LLC

Moran Wealth Management LLC cut its stake in shares of Range Resources Co. (NYSE:RRC) by 7.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,800 shares of the oil and gas exploration company’s stock after selling 1,847 shares during the period. Moran Wealth Management LLC’s holdings in Range Resources were worth $856,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in shares of Range Resources during the 3rd quarter valued at $25,000. Smartleaf Asset Management LLC boosted its position in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. grew 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. Geneos Wealth Management Inc. acquired a new position in Range Resources in the 4th quarter worth about $46,000. Finally, Versant Capital Management Inc raised its stake in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial increased their price objective on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Stephens boosted their price target on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler increased their price objective on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.11.

Range Resources Stock Performance

NYSE RRC opened at $37.50 on Wednesday. The company’s fifty day moving average is $38.20 and its two-hundred day moving average is $34.28. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the business earned $0.63 earnings per share. Equities research analysts forecast that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Range Resources Company 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.