Range Resources Co. (NYSE:RRC) Shares Acquired by Diversify Wealth Management LLC

Diversify Wealth Management LLC boosted its position in shares of Range Resources Co. (NYSE:RRC) by 18.6% in the third quarter, Holdings Channel.com reports. The firm owned 11,531 shares of the oil and gas exploration company’s stock after acquiring an additional 1,809 shares during the period. Diversify Wealth Management LLC’s holdings in Range Resources were worth $357,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RRC. Price T Rowe Associates Inc. MD boosted its stake in Range Resources by 25.2% during 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 last quarter. William Blair Investment Management LLC bought a new position in Range Resources during the 2nd quarter valued at $78,223,000. Canoe Financial LP boosted its stake in Range Resources by 114.9% during the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after acquiring an additional 1,422,200 shares during the last quarter. Vanguard Group Inc. boosted its stake in Range Resources by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after acquiring an additional 959,011 shares during the last quarter. Finally, Herr Investment Group LLC lifted its position in shares of 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 worth $17,133,000 after buying an additional 487,011 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Bank of America assumed coverage on shares of Range Resources in a research report on Monday, October 28th. They issued a “neutral” rating and a $34.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Piper Sandler downgraded shares of Range Resources from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, Wolfe Research started coverage on shares of Range Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $35.00.

Range Resources Price Performance

NYSE:RRC opened at $29.83 on Friday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $30.24 and a 200 day simple moving average of $32.85. The stock has a market capitalization of $7.20 billion, a PE ratio of 15.06 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same period last year, the business earned $0.43 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, research analysts expect that Range Resources Co. will post 1.87 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Insider Transactions at Range Resources

In other news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Charles G. Griffie purchased 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

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.