Farther Finance Advisors LLC Buys 2,199 Shares of Range Resources Corporation $RRC

Farther Finance Advisors LLC increased its stake in Range Resources Corporation (NYSE:RRC) by 116.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,094 shares of the oil and gas exploration company’s stock after purchasing an additional 2,199 shares during the period. Farther Finance Advisors LLC’s holdings in Range Resources were worth $167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RRC. King Luther Capital Management Corp boosted its stake in Range Resources by 2,522.3% in the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company’s stock worth $32,888,000 after buying an additional 792,240 shares in the last quarter. AQR Capital Management LLC boosted its stake in Range Resources by 3,222.9% in the first quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company’s stock worth $21,528,000 after buying an additional 522,910 shares in the last quarter. Nuveen LLC purchased a new stake in Range Resources in the first quarter worth approximately $19,396,000. Wellington Management Group LLP boosted its stake in Range Resources by 50.1% in the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock worth $56,103,000 after buying an additional 468,841 shares in the last quarter. Finally, Beck Bode LLC purchased a new stake in Range Resources in the first quarter worth approximately $15,651,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of Range Resources stock opened at $38.57 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market cap of $9.19 billion, a PE ratio of 19.38, a P/E/G ratio of 0.34 and a beta of 0.51. The business has a 50 day moving average of $35.12 and a 200 day moving average of $36.93. Range Resources Corporation has a 52 week low of $28.99 and a 52 week high of $43.50.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the company earned $0.46 earnings per share. As a group, equities research analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is presently 18.09%.

Analyst Ratings Changes

Several brokerages have issued reports on RRC. Roth Capital lowered Range Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Mizuho dropped their price objective on Range Resources from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Scotiabank set a $46.00 price objective on Range Resources and gave the company a “sector perform” rating in a research note on Friday, July 11th. UBS Group dropped their price objective on Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Finally, Raymond James Financial dropped their price objective on Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, September 19th. Seven research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.80.

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.