Hardin Capital Partners LLC Purchases Shares of 9,350 Range Resources Co. (NYSE:RRC)

Hardin Capital Partners LLC purchased a new position in Range Resources Co. (NYSE:RRC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,350 shares of the oil and gas exploration company’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RRC. Fifth Third Bancorp boosted its position in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after acquiring an additional 299 shares during the last quarter. Perkins Coie Trust Co purchased a new position in Range Resources during the 2nd quarter valued at approximately $67,000. International Assets Investment Management LLC bought a new stake in Range Resources in the 2nd quarter worth approximately $67,000. Private Wealth Management Group LLC purchased a new stake in shares of Range Resources during the 4th quarter worth approximately $73,000. Finally, SYSTM Wealth Solutions LLC boosted its position in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RRC shares. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a research note on Tuesday, August 20th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Jefferies Financial Group lifted their price target on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wolfe Research initiated coverage on Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Susquehanna dropped their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average target price of $36.68.

Range Resources Price Performance

Shares of RRC stock opened at $29.00 on Friday. The company has a market cap of $7.02 billion, a P/E ratio of 14.72 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50-day moving average is $30.89 and its 200 day moving average is $33.57. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same period in the prior year, the company earned $0.27 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts predict that Range Resources Co. will post 2.07 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Range Resources’s payout ratio is currently 16.24%.

Range Resources 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.