Moran Wealth Management LLC Sells 1,847 Shares of Range Resources Co. (NYSE:RRC)

Moran Wealth Management LLC trimmed its stake in shares of Range Resources Co. (NYSE:RRC) by 7.2% during the fourth quarter, Holdings Channel reports. The firm 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.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Range Resources in the 3rd quarter valued at $25,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 471 shares during the period. UMB Bank n.a. boosted its stake 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 valued at $41,000 after purchasing an additional 426 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Range Resources in the 4th quarter worth about $46,000. Finally, Versant Capital Management Inc increased its position 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. 98.93% of the stock is currently owned by institutional investors.

Range Resources Price Performance

Shares of RRC stock opened at $37.50 on Wednesday. The firm’s 50 day moving average price is $38.20 and its two-hundred day moving average price is $34.28. 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. The stock has a market cap of $9.05 billion, a PE ratio of 18.94, a PEG ratio of 5.11 and a beta of 1.80.

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

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Range Resources’s dividend payout ratio is 32.73%.

Analysts Set New Price Targets

A number of research firms have commented on RRC. Wells Fargo & Company boosted their price target on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Truist Financial increased their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup downgraded Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.11.

About Range Resources

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.