Confluence Wealth Services Inc. Has $370,000 Stock Holdings in Range Resources Co. (NYSE:RRC)

Confluence Wealth Services Inc. decreased its stake in shares of Range Resources Co. (NYSE:RRC) by 36.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,279 shares of the oil and gas exploration company’s stock after selling 5,809 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Range Resources were worth $370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Calamos Advisors LLC acquired a new stake in Range Resources during the fourth quarter worth approximately $567,000. Alliance Wealth Advisors LLC UT lifted its holdings in Range Resources by 7.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 19,973 shares of the oil and gas exploration company’s stock worth $719,000 after purchasing an additional 1,367 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in Range Resources during the 4th quarter worth approximately $339,000. Parsons Capital Management Inc. RI boosted its stake in Range Resources by 149.8% in the 4th quarter. Parsons Capital Management Inc. RI now owns 104,650 shares of the oil and gas exploration company’s stock valued at $3,765,000 after purchasing an additional 62,750 shares during the period. Finally, Mariner Investment Group LLC grew its stake in shares of Range Resources by 28.6% in the fourth quarter. Mariner Investment Group LLC now owns 45,000 shares of the oil and gas exploration company’s stock valued at $1,619,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

RRC has been the topic of a number of analyst reports. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Truist Financial raised their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Barclays upped their price objective on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Stephens raised their target price on shares of Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Piper Sandler upped their target price on Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.

Range Resources Stock Performance

NYSE RRC opened at $38.92 on Thursday. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 19.66 and a beta of 1.78. The stock has a fifty day simple moving average of $36.66 and a 200 day simple moving average of $33.03. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is presently 16.16%.

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.