PUREfi Wealth LLC Buys New Stake in Range Resources Co. (NYSE:RRC)

PUREfi Wealth LLC bought a new stake in Range Resources Co. (NYSE:RRC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,500 shares of the oil and gas exploration company’s stock, valued at approximately $270,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after purchasing an additional 35,344 shares during the last quarter. Canoe Financial LP increased its holdings in Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after purchasing an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after purchasing an additional 92,217 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Range Resources by 0.9% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock valued at $36,820,000 after buying an additional 10,690 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE:RRC opened at $38.68 on Friday. The company’s fifty day moving average price is $37.17 and its 200 day moving average price is $33.33. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. 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 firm has a market capitalization of $9.33 billion, a P/E ratio of 19.54 and a beta of 1.77.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.83%. Range Resources’s dividend payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

RRC has been the subject of several recent research reports. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Truist Financial raised their price target on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Friday, January 3rd. The Goldman Sachs Group raised their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stephens raised their price target on shares of Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.78.

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.