Beacon Pointe Advisors LLC Decreases Holdings in Range Resources Co. (NYSE:RRC)

Beacon Pointe Advisors LLC lowered its stake in shares of Range Resources Co. (NYSE:RRC) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,317 shares of the oil and gas exploration company’s stock after selling 339 shares during the period. Beacon Pointe Advisors LLC’s holdings in Range Resources were worth $947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RRC. Smartleaf Asset Management LLC increased its stake in Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $42,000. Geneos Wealth Management Inc. acquired a new position in Range Resources in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc lifted its holdings in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of research reports. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Raymond James increased their price objective on shares of Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Truist Financial boosted their target price on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, March 17th. Susquehanna cut their price target on Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group boosted their price objective on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.50.

Range Resources Price Performance

RRC stock opened at $34.96 on Friday. The business’s fifty day moving average price is $36.32 and its 200 day moving average price is $35.85. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $8.35 billion, a PE ratio of 17.66, a P/E/G ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, sell-side analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 32.14%.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.