Guardian Capital LP Boosts Stock Holdings in Range Resources Co. (NYSE:RRC)

Guardian Capital LP boosted its stake in shares of Range Resources Co. (NYSE:RRCGet Rating) by 27.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,946 shares of the oil and gas exploration company’s stock after acquiring an additional 8,941 shares during the period. Guardian Capital LP’s holdings in Range Resources were worth $1,013,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CWM LLC grew its stake in Range Resources by 64.9% during the second quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 470 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Range Resources in the 1st quarter worth $37,000. Exchange Traded Concepts LLC grew its stake in shares of Range Resources by 34.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock worth $49,000 after buying an additional 509 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Range Resources in the 1st quarter worth $84,000. Finally, Islay Capital Management LLC purchased a new position in shares of Range Resources during the 2nd quarter worth about $89,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of RRC stock traded down $0.45 during trading hours on Thursday, hitting $29.77. The company’s stock had a trading volume of 3,967,225 shares, compared to its average volume of 3,909,154. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $27.77 and a 200 day moving average of $29.60. Range Resources Co. has a 12-month low of $16.71 and a 12-month high of $37.44. The stock has a market cap of $7.19 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 0.22 and a beta of 2.12.

Range Resources (NYSE:RRCGet Rating) last posted its earnings results on Tuesday, October 25th. The oil and gas exploration company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. Range Resources had a net margin of 30.87% and a return on equity of 60.30%. The business’s revenue for the quarter was up 267.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts forecast that Range Resources Co. will post 4.92 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from Range Resources’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Wednesday, September 14th. Range Resources’s dividend payout ratio is 6.57%.

Insider Activity

In related news, SVP Dori Ginn sold 5,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $34.65, for a total value of $173,250.00. Following the completion of the sale, the senior vice president now owns 80,801 shares of the company’s stock, valued at $2,799,754.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RRC shares. Susquehanna Bancshares raised shares of Range Resources to a “positive” rating and set a $38.00 price target for the company in a research note on Wednesday, October 26th. Susquehanna raised shares of Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 price target for the company in a research note on Wednesday, October 26th. The Goldman Sachs Group lifted their price target on shares of Range Resources from $31.00 to $35.00 and gave the stock a “sell” rating in a research note on Monday, August 22nd. TD Securities upgraded shares of Range Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from $32.00 to $33.00 in a report on Thursday, September 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Range Resources from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.88.

Range Resources Profile

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Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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