OneDigital Investment Advisors LLC Makes New $2.45 Million Investment in Range Resources Corporation $RRC

OneDigital Investment Advisors LLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 65,797 shares of the oil and gas exploration company’s stock, valued at approximately $2,447,000.

Several other large investors have also made changes to their positions in RRC. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources during the fourth quarter worth about $34,000. Root Financial Partners LLC raised its stake in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares during the period. Western Wealth Management LLC purchased a new position in Range Resources in the 1st quarter worth approximately $59,000. SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources in the 4th quarter worth approximately $57,000. Finally, Basepoint Wealth LLC bought a new position in Range Resources in the 4th quarter worth approximately $61,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

NYSE RRC opened at $40.31 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The business has a 50 day simple moving average of $37.94 and a two-hundred day simple moving average of $39.97. The stock has a market capitalization of $9.42 billion, a PE ratio of 11.14 and a beta of 0.42.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts predict that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio is presently 11.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group reaffirmed a “neutral” rating on shares of Range Resources in a report on Thursday. Freedom Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Susquehanna dropped their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research note on Monday, July 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average price target of $43.35.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

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.