Capital Advisors Inc. OK Buys Shares of 10,000 Range Resources Co. (NYSE:RRC)

Capital Advisors Inc. OK purchased a new position in Range Resources Co. (NYSE:RRC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the oil and gas exploration company’s stock, valued at approximately $360,000.

A number of other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after purchasing an additional 35,344 shares in the last quarter. Canoe Financial LP lifted its holdings in shares of Range Resources by 9.4% during the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after buying an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after buying an additional 92,217 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after buying an additional 604,199 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in Range Resources by 0.9% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock valued at $36,820,000 after acquiring an additional 10,690 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

NYSE:RRC opened at $38.43 on Thursday. The firm’s 50-day moving average is $36.99 and its 200-day moving average is $33.24. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 19.41 and a beta of 1.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.83%. Range Resources’s dividend payout ratio is 16.16%.

Analyst Upgrades and Downgrades

RRC has been the subject of several recent research reports. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Citigroup upped their price target on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Truist Financial increased their price objective on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.44.

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.