Range Resources Co. (NYSE:RRC) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its position in Range Resources Co. (NYSE:RRC) by 14.6% during the fourth quarter, Holdings Channel reports. The firm owned 14,067 shares of the oil and gas exploration company’s stock after selling 2,409 shares during the period. Avantax Advisory Services Inc.’s holdings in Range Resources were worth $506,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Range Resources during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its position in shares of 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 valued at $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. grew its stake in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc raised its position in Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on RRC shares. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research note on Friday, January 17th. JPMorgan Chase & Co. upgraded shares of Range Resources from an “underweight” rating to a “neutral” rating and increased their target price for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. Piper Sandler lifted their price target on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $39.95.

Range Resources Stock Performance

Shares of Range Resources stock opened at $39.84 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The business has a 50-day moving average of $38.56 and a 200 day moving average of $34.77. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95.

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

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. Range Resources’s dividend payout ratio is 32.73%.

Range Resources Company 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.