Moran Wealth Management LLC Sells 1,540 Shares of Range Resources Co. (NYSE:RRC)

Moran Wealth Management LLC reduced its holdings in Range Resources Co. (NYSE:RRC) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,647 shares of the oil and gas exploration company’s stock after selling 1,540 shares during the period. Moran Wealth Management LLC’s holdings in Range Resources were worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Range Resources by 25.2% during the 1st 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 buying an additional 5,759,883 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Range Resources in the second quarter worth about $78,223,000. Canoe Financial LP raised its position in shares of Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after purchasing an additional 1,422,200 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Range Resources by 4.1% during 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. Finally, Sagefield Capital LP grew its position in shares of Range Resources by 44.8% in the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock valued at $30,408,000 after purchasing an additional 280,452 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna reduced their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Stephens increased their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler reduced their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research note on Thursday, July 25th. Finally, Bank of America began coverage on Range Resources in a report on Monday, October 28th. They set a “neutral” rating and a $34.00 target price on the stock. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.94.

Range Resources Trading Up 0.8 %

Shares of RRC stock opened at $35.44 on Friday. The company has a market cap of $8.55 billion, a P/E ratio of 17.90 and a beta of 1.80. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The stock has a 50 day simple moving average of $31.48 and a two-hundred day simple moving average of $32.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same period in the previous year, the company posted $0.43 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Research analysts forecast that Range Resources Co. will post 1.88 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. Range Resources’s dividend payout ratio is presently 16.16%.

Insiders Place Their Bets

In other news, Director Charles G. Griffie acquired 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

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.