Advisors Preferred LLC Takes Position in Range Resources Corporation $RRC

Advisors Preferred LLC acquired a new position in shares of Range Resources Corporation (NYSE:RRC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,183 shares of the oil and gas exploration company’s stock, valued at approximately $2,034,000.

Several other large investors have also added to or reduced their stakes in RRC. Journey Advisory Group LLC increased its position in shares of Range Resources by 357.9% during the third quarter. Journey Advisory Group LLC now owns 97,294 shares of the oil and gas exploration company’s stock valued at $3,662,000 after buying an additional 76,048 shares during the period. Citigroup Inc. grew its stake in Range Resources by 71.0% during the third quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock valued at $11,578,000 after acquiring an additional 127,753 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Range Resources during the 3rd quarter worth approximately $949,000. AMG National Trust Bank increased its holdings in Range Resources by 0.9% during the 3rd quarter. AMG National Trust Bank now owns 41,986 shares of the oil and gas exploration company’s stock worth $1,580,000 after acquiring an additional 386 shares during the period. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Range Resources by 0.3% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,411,151 shares of the oil and gas exploration company’s stock worth $53,116,000 after purchasing an additional 4,356 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RRC. Bank of America restated 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. Weiss Ratings restated a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. Morgan Stanley decreased their target price on Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Finally, Citigroup cut their price objective on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.12.

Range Resources Price Performance

Shares of Range Resources stock opened at $39.71 on Friday. The firm has a market capitalization of $9.41 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.36 and a beta of 0.58. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12 month low of $30.32 and a 12 month high of $43.50. The business’s 50-day moving average price is $35.69 and its 200-day moving average price is $36.19.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, December 12th. Range Resources’s payout ratio is presently 15.13%.

Range Resources 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.