Commonwealth Equity Services LLC Purchases 379 Shares of Range Resources Co. (NYSE:RRC)

Commonwealth Equity Services LLC grew its position in shares of Range Resources Co. (NYSE:RRC) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,120 shares of the oil and gas exploration company’s stock after buying an additional 379 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Range Resources were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares during the last quarter. UMB Bank n.a. boosted its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Range Resources in the fourth quarter worth $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 worth $56,000 after purchasing an additional 463 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Range Resources by 72.0% in 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 in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Down 12.0 %

Range Resources stock opened at $33.51 on Friday. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. The company’s 50 day simple moving average is $38.29 and its 200 day simple moving average is $35.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.09 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Range Resources’s payout ratio is currently 32.73%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group upped their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Truist Financial raised their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Finally, Stephens lifted their target price on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.60.

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.