Allspring Global Investments Holdings LLC purchased a new stake in shares of Range Resources Co. (NYSE:RRC – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,591 shares of the oil and gas exploration company’s stock, valued at approximately $106,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in Range Resources during the 1st quarter valued at about $42,000. Clear Street Markets LLC bought a new stake in shares of Range Resources during the first quarter valued at approximately $53,000. Steward Partners Investment Advisory LLC raised its holdings in Range Resources by 37.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,564 shares of the oil and gas exploration company’s stock worth $68,000 after acquiring an additional 700 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Range Resources by 60.8% in the 1st quarter. Belpointe Asset Management LLC now owns 2,573 shares of the oil and gas exploration company’s stock valued at $68,000 after acquiring an additional 973 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Range Resources by 864.0% during the 1st quarter. Advisory Services Network LLC now owns 3,856 shares of the oil and gas exploration company’s stock valued at $102,000 after purchasing an additional 3,456 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.
Insider Activity at Range Resources
In related news, SVP Dori Ginn sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $37.35, for a total value of $933,750.00. Following the completion of the transaction, the senior vice president now directly owns 85,804 shares of the company’s stock, valued at $3,204,779.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.57% of the stock is owned by corporate insiders.
Range Resources Trading Up 1.8 %
Range Resources (NYSE:RRC – Get Free Report) last posted its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.16. The company had revenue of $648.77 million during the quarter, compared to analysts’ expectations of $619.30 million. Range Resources had a net margin of 33.85% and a return on equity of 21.56%. On average, equities analysts expect that Range Resources Co. will post 2.01 earnings per share for the current fiscal year.
Range Resources Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.08 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. Range Resources’s dividend payout ratio is currently 5.73%.
Wall Street Analyst Weigh In
RRC has been the subject of a number of recent analyst reports. StockNews.com cut shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Sunday, October 29th. Royal Bank of Canada raised their target price on shares of Range Resources from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Siebert Williams Shank lowered shares of Range Resources from a “buy” rating to a “hold” rating and set a $38.00 target price for the company. in a research note on Monday, August 14th. Truist Financial raised their price target on Range Resources from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, September 11th. Finally, Bank of America upped their price objective on Range Resources from $44.00 to $47.00 in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $36.05.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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