Beacon Harbor Wealth Advisors Inc. Makes New $6.36 Million Investment in Range Resources Corporation (NYSE:RRC)

Beacon Harbor Wealth Advisors Inc. bought a new stake in Range Resources Corporation (NYSE:RRC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 159,301 shares of the oil and gas exploration company’s stock, valued at approximately $6,361,000. Beacon Harbor Wealth Advisors Inc. owned approximately 0.07% of Range Resources 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 made changes to their positions in RRC. Dimensional Fund Advisors LP increased its position in Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after purchasing an additional 624,955 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after purchasing an additional 2,104,304 shares during the period. Northern Trust Corp grew its position in shares of Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after purchasing an additional 605,315 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Range Resources by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company’s stock valued at $85,899,000 after purchasing an additional 38,648 shares during the period. Finally, Goehring & Rozencwajg Associates LLC grew its position in shares of Range Resources by 1.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company’s stock valued at $57,803,000 after purchasing an additional 25,403 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total value of $168,672.00. Following the sale, the director directly owned 13,663 shares in the company, valued at $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the completion of the sale, the chief executive officer owned 58,431 shares in the company, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,498 shares of company stock worth $2,508,701. 1.00% of the stock is currently owned by insiders.

Range Resources Trading Down 0.6%

Shares of RRC stock opened at $35.04 on Thursday. The company has a market cap of $8.35 billion, a P/E ratio of 17.61, a PEG ratio of 0.28 and a beta of 0.60. The stock has a 50 day simple moving average of $38.57 and a two-hundred day simple moving average of $37.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a fifty-two week low of $27.55 and a fifty-two week high of $43.50.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. The firm had revenue of $856.28 million during the quarter, compared to analysts’ expectations of $708.38 million. During the same quarter last year, the firm posted $0.46 earnings per share. Research analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources’s dividend payout ratio (DPR) is 18.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RRC shares. Piper Sandler boosted their target price on Range Resources from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Stephens reissued an “overweight” rating and set a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. UBS Group upped their price objective on Range Resources from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Bank of America upped their price objective on Range Resources from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Morgan Stanley set a $41.00 target price on Range Resources in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.37.

About Range Resources

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.