Wealth Enhancement Advisory Services LLC Buys 920 Shares of Range Resources Co. (NYSE:RRC)

Wealth Enhancement Advisory Services LLC increased its position in shares of Range Resources Co. (NYSE:RRC) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,912 shares of the oil and gas exploration company’s stock after purchasing an additional 920 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Range Resources were worth $265,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RRC. Boston Partners lifted its holdings in shares of Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after acquiring an additional 6,070,900 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Range Resources by 25.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares in the last quarter. Canoe Financial LP increased its stake in shares of Range Resources by 42.5% in the 4th quarter. Canoe Financial LP now owns 1,702,900 shares of the oil and gas exploration company’s stock valued at $51,836,000 after purchasing an additional 507,500 shares during the last quarter. Finally, Herr Investment Group LLC raised its holdings in shares of Range Resources by 4,594.4% during the 1st quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock worth $17,133,000 after buying an additional 487,011 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Performance

RRC stock opened at $30.29 on Tuesday. The business has a 50 day moving average of $32.20 and a 200-day moving average of $33.72. The firm has a market cap of $7.35 billion, a PE ratio of 15.38 and a beta of 1.88. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. During the same period last year, the firm posted $0.27 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Range Resources Co. will post 2.08 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, June 14th. Range Resources’s dividend payout ratio is currently 16.24%.

Analysts Set New Price Targets

Several analysts recently weighed in on RRC shares. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a research note on Tuesday, August 20th. Piper Sandler lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $31.00 in a report on Thursday, August 15th. Mizuho upped their price objective on shares of Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Wolfe Research assumed coverage on shares of Range Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Jefferies Financial Group upped their price target on shares of Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.11.

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.