Diversify Wealth Management LLC Acquires 3,466 Shares of Range Resources Co. (NYSE:RRC)

Diversify Wealth Management LLC grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 30.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,997 shares of the oil and gas exploration company’s stock after purchasing an additional 3,466 shares during the period. Diversify Wealth Management LLC’s holdings in Range Resources were worth $572,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Canoe Financial LP lifted its position in Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock worth $104,595,000 after buying an additional 251,200 shares during the last quarter. Radnor Capital Management LLC lifted its position in Range Resources by 156.2% in the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock worth $1,547,000 after buying an additional 26,213 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Range Resources in the 4th quarter worth approximately $4,792,000. GAMMA Investing LLC lifted its position in Range Resources by 36.4% in the 4th quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company’s stock worth $158,000 after buying an additional 1,172 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Range Resources by 42.8% in the 4th 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 period. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RRC. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. Truist Financial lifted their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.16.

Range Resources Trading Down 0.3 %

Range Resources stock opened at $40.96 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $32.67. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.65. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 20.69 and a beta of 1.81.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $617.90 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts predict that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Insiders Place Their Bets

In related news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. The trade was a 27.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

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.