Accordant Advisory Group Inc Takes Position in Range Resources Corporation $RRC

Accordant Advisory Group Inc acquired a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 39,596 shares of the oil and gas exploration company’s stock, valued at approximately $1,610,000. Range Resources accounts for 1.2% of Accordant Advisory Group Inc’s holdings, making the stock its 25th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Range Resources by 4.7% in the 2nd quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after purchasing an additional 270 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Range Resources by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock valued at $2,981,000 after purchasing an additional 299 shares during the period. ProShare Advisors LLC grew its holdings in shares of Range Resources by 3.1% in the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after purchasing an additional 315 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Range Resources by 0.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock worth $2,636,000 after buying an additional 328 shares during the period. Finally, Evergreen Capital Management LLC raised its holdings in Range Resources by 4.8% during the 1st quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company’s stock valued at $308,000 after buying an additional 351 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RRC shares. UBS Group cut their price target on shares of Range Resources from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Morgan Stanley cut their target price on Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Susquehanna lowered their price target on Range Resources to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Piper Sandler cut their price objective on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Range Resources from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.85.

Range Resources Stock Performance

Shares of Range Resources stock opened at $39.32 on Thursday. Range Resources Corporation has a 12 month low of $30.32 and a 12 month high of $43.50. The firm has a market capitalization of $9.32 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.39 and a beta of 0.50. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $37.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The company had revenue of $655.30 million during the quarter, compared to analyst estimates of $721.22 million. During the same period last year, the business earned $0.48 EPS. Range Resources’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.09 dividend. 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 is presently 15.13%.

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.