Range Resources Co. (NYSE:RRC) Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its holdings in Range Resources Co. (NYSE:RRC) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,718 shares of the oil and gas exploration company’s stock after purchasing an additional 5,517 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Range Resources were worth $1,683,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after acquiring an additional 5,759,883 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Range Resources during the second quarter worth approximately $78,223,000. Canoe Financial LP raised its stake in shares of Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after purchasing an additional 1,422,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after purchasing an additional 959,011 shares during the period. Finally, Herr Investment Group LLC grew its position in Range Resources by 4,594.4% in the 1st quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after buying an additional 487,011 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho reduced their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Bank of America assumed coverage on Range Resources in a report on Monday, October 28th. They issued a “neutral” rating and a $34.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research note on Thursday, July 25th. Susquehanna reduced their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Piper Sandler lowered Range Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $31.00 in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.00.

Range Resources Stock Down 0.6 %

RRC stock opened at $33.44 on Monday. 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 12 month low of $27.29 and a 12 month high of $39.33. The firm has a market capitalization of $8.07 billion, a PE ratio of 16.89 and a beta of 1.80. The company’s 50 day simple moving average is $30.97 and its 200-day simple moving average is $32.58.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Range Resources’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect that Range Resources Co. will post 1.89 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is 16.16%.

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.