Wealthcare Advisory Partners LLC Takes Position in Range Resources Corporation $RRC

Wealthcare Advisory Partners LLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,145 shares of the oil and gas exploration company’s stock, valued at approximately $499,000.

A number of other institutional investors also recently bought and sold shares of RRC. True Wealth Design LLC lifted its holdings in Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 541 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 336 shares during the period. Clearstead Advisors LLC raised its position in shares of Range Resources by 439.5% in the 3rd quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock worth $79,000 after acquiring an additional 1,714 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Range Resources by 206.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock worth $87,000 after acquiring an additional 1,550 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Range Resources in the 3rd quarter valued at approximately $96,000. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $39.00 price objective (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Truist Financial began coverage on shares of Range Resources in a report on Tuesday, March 24th. They set a “hold” rating and a $48.00 target price on the stock. Piper Sandler upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Wells Fargo & Company lifted their price target on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.18.

Range Resources Stock Down 3.6%

RRC stock opened at $43.54 on Thursday. Range Resources Corporation has a twelve month low of $30.32 and a twelve month high of $48.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.25 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 0.37 and a beta of 0.51. The business has a 50 day moving average of $40.27 and a 200 day moving average of $37.90.

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

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was 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 presently 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.