Avior Wealth Management LLC Makes New Investment in Range Resources Corporation $RRC

Avior Wealth Management LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,123 shares of the oil and gas exploration company’s stock, valued at approximately $674,000.

Other institutional investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC lifted its holdings in Range Resources by 43.5% during the third quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock worth $14,626,000 after buying an additional 117,722 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Range Resources by 753.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock valued at $3,394,000 after acquiring an additional 79,613 shares during the period. Congress Asset Management Co. increased its holdings in shares of Range Resources by 12.1% in the 3rd quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock valued at $20,299,000 after acquiring an additional 58,335 shares during the period. Citigroup Inc. raised its position in shares of Range Resources by 71.0% in the 3rd quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock worth $11,578,000 after acquiring an additional 127,753 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Range Resources by 48.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock worth $5,086,000 after purchasing an additional 44,004 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Bank of America reissued a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $39.00 price target (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Morgan Stanley cut their price objective on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus price target of $42.44.

Range Resources Trading Down 1.5%

Range Resources stock opened at $44.60 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $10.50 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.41 and a beta of 0.57. The stock has a 50-day moving average of $38.42 and a two-hundred day moving average of $37.30. Range Resources Corporation has a one year low of $30.32 and a one year high of $46.19.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, research analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio (DPR) is currently 14.60%.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.