Raymond James Financial Services Advisors Inc. Grows Stock Position in Range Resources Co. (NYSE:RRC)

Raymond James Financial Services Advisors Inc. boosted its position in Range Resources Co. (NYSE:RRC) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,440 shares of the oil and gas exploration company’s stock after buying an additional 4,832 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Range Resources were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Fifth Third Bancorp increased its position in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 490 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its position in shares of Range Resources by 7.0% in the third quarter. Alliance Wealth Advisors LLC UT now owns 9,972 shares of the oil and gas exploration company’s stock valued at $323,000 after purchasing an additional 652 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Range Resources by 37.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,564 shares of the oil and gas exploration company’s stock valued at $68,000 after purchasing an additional 700 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Range Resources in the third quarter valued at $26,000. Finally, Arizona State Retirement System grew its position in shares of Range Resources by 1.2% in the third quarter. Arizona State Retirement System now owns 68,702 shares of the oil and gas exploration company’s stock valued at $2,227,000 after purchasing an additional 819 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Trading Down 0.1 %

NYSE RRC opened at $36.01 on Monday. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $37.88. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $32.35 and a 200-day moving average of $32.14. The firm has a market cap of $8.72 billion, a PE ratio of 10.17 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company had revenue of $941.40 million during the quarter, compared to analyst estimates of $672.25 million. During the same quarter in the previous year, the company posted $1.26 EPS. Range Resources’s revenue for the quarter was down 42.3% on a year-over-year basis. As a group, sell-side analysts forecast that Range Resources Co. will post 1.92 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 9.04%.

Analyst Upgrades and Downgrades

RRC has been the subject of several recent research reports. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $40.00 to $45.00 in a research report on Thursday. Truist Financial reduced their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Morgan Stanley boosted their target price on Range Resources from $22.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, March 28th. Finally, Mizuho restated a “buy” rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.25.

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.