Sanctuary Advisors LLC Purchases New Position in Range Resources Co. (NYSE:RRC)

Sanctuary Advisors LLC acquired a new position in shares of Range Resources Co. (NYSE:RRC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,668 shares of the oil and gas exploration company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RRC. M&T Bank Corp grew its holdings in Range Resources by 3.1% during the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after acquiring an additional 327 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Range Resources by 5.4% during the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after buying an additional 350 shares during the period. Commerce Bank raised its stake in Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after buying an additional 369 shares in the last quarter. Inscription Capital LLC lifted its holdings in Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after buying an additional 433 shares during the period. Finally, Orser Capital Management LLC boosted its position in Range Resources by 1.0% during the 3rd quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock valued at $1,661,000 after acquiring an additional 550 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.57% of the stock is currently owned by insiders.

Range Resources Trading Up 0.6 %

NYSE RRC opened at $34.79 on Monday. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The firm has a 50 day simple moving average of $33.60 and a 200-day simple moving average of $32.22. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 17.57 and a beta of 1.85. 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 announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $617.90 million. During the same quarter last year, the business posted $0.43 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Range Resources Co. will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced 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. This represents a $0.32 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. cut their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a report on Thursday, September 12th. Piper Sandler decreased 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, November 18th. The Goldman Sachs Group dropped their target price on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.00.

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.