Proficio Capital Partners LLC Invests $1.19 Million in Range Resources Co. (NYSE:RRC)

Proficio Capital Partners LLC purchased a new position in shares of Range Resources Co. (NYSE:RRC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 33,123 shares of the oil and gas exploration company’s stock, valued at approximately $1,192,000.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Range Resources during the third quarter valued at $25,000. UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the fourth quarter valued at $46,000. Versant Capital Management Inc grew its holdings in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after buying an additional 463 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Range Resources by 72.0% during the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company’s stock valued at $78,000 after buying an additional 912 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Down 0.3 %

RRC stock opened at $35.27 on Friday. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 5.11 and a beta of 1.77. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The firm has a 50-day moving average of $38.16 and a two-hundred day moving average of $34.11.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.09 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. Range Resources’s dividend payout ratio is presently 29.09%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RRC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price objective on shares of Range Resources in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Mizuho upped their price target on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Piper Sandler upped their price target on shares of Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.06.

About Range Resources

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.