Private Wealth Advisors LLC Reduces Stock Holdings in Range Resources Corporation $RRC

Private Wealth Advisors LLC reduced its holdings in shares of Range Resources Corporation (NYSE:RRC) by 53.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,585 shares of the oil and gas exploration company’s stock after selling 49,044 shares during the period. Private Wealth Advisors LLC’s holdings in Range Resources were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Range Resources by 3.3% during the third quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock worth $935,425,000 after acquiring an additional 799,574 shares during the last quarter. Boston Partners raised its position in shares of Range Resources by 59.3% in the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after purchasing an additional 4,398,042 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 7.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,291,202 shares of the oil and gas exploration company’s stock valued at $312,075,000 after purchasing an additional 608,274 shares during the last quarter. Lingotto Investment Management LLP boosted its stake in Range Resources by 2.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company’s stock worth $291,263,000 after purchasing an additional 138,877 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after purchasing an additional 3,336,299 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports 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 note on Friday, January 16th. UBS Group boosted their price objective on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Wells Fargo & Company upped their target price on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Finally, Barclays lifted their price target on Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.44.

Range Resources Stock Performance

RRC opened at $43.52 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $44.56. The firm has a 50 day moving average of $37.97 and a two-hundred day moving average of $37.13. The firm has a market capitalization of $10.24 billion, a PE ratio of 15.88, a P/E/G ratio of 0.40 and a beta of 0.57.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.69 by $0.13. The business 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 business’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. On average, analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

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

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.