Wealthcare Advisory Partners LLC Takes $499,000 Position in Range Resources Corporation $RRC

Wealthcare Advisory Partners LLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) in the 4th quarter, Holdings Channel reports. The fund purchased 14,145 shares of the oil and gas exploration company’s stock, valued at approximately $499,000.

A number of other hedge funds also recently added to or reduced their stakes in RRC. Boston Partners lifted its position in 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 acquiring an additional 4,398,042 shares in the last quarter. Invesco Ltd. raised its stake in shares of Range Resources by 230.1% in the second 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 during the last quarter. AQR Capital Management LLC raised its stake in shares of Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Range Resources during the third quarter valued at $66,560,000. Finally, UBS Group AG lifted its holdings in shares of Range Resources by 122.0% during the third quarter. UBS Group AG now owns 2,158,063 shares of the oil and gas exploration company’s stock valued at $81,229,000 after purchasing an additional 1,185,793 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Truist Financial began coverage on shares of Range Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $48.00 target price on the stock. Citigroup raised their price target on shares of Range Resources from $43.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley reduced their price target on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Finally, Wells Fargo & Company increased their price objective 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 investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Range Resources currently has an average rating of “Hold” and an average price target of $43.18.

Range Resources Stock Down 3.6%

Range Resources stock opened at $43.54 on Thursday. The stock 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 company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. Range Resources Corporation has a one year low of $30.32 and a one year high of $48.31. The stock has a fifty day moving average of $40.27 and a 200 day moving average of $37.90.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s payout ratio is 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.