Callan Family Office LLC Buys 2,831 Shares of Range Resources Corporation $RRC

Callan Family Office LLC increased its stake in shares of Range Resources Corporation (NYSE:RRC) by 30.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,989 shares of the oil and gas exploration company’s stock after buying an additional 2,831 shares during the quarter. Callan Family Office LLC’s holdings in Range Resources were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RRC. Hollencrest Capital Management bought a new position in Range Resources in the 1st quarter valued at $33,000. Bessemer Group Inc. raised its position in Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Range Resources in the 1st quarter valued at $39,000. Barrett & Company Inc. bought a new position in Range Resources in the 2nd quarter valued at $41,000. Finally, Ameritas Advisory Services LLC bought a new position in Range Resources in the 2nd quarter valued at $47,000. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley lowered their target price on Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday. Mizuho lifted their target price on Range Resources from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. lowered their target price on Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Royal Bank Of Canada lifted their target price on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Finally, Barclays lifted their target price on Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. Eight research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $42.05.

Range Resources Stock Down 2.3%

RRC stock opened at $36.13 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $8.60 billion, a P/E ratio of 18.15, a P/E/G ratio of 0.33 and a beta of 0.51. The business has a 50-day moving average of $35.47 and a 200-day moving average of $36.80. Range Resources Corporation has a fifty-two week low of $28.99 and a fifty-two week high of $43.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The company had revenue of $856.28 million during the quarter, compared to analysts’ expectations of $708.38 million. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, September 12th. Range Resources’s payout ratio is currently 18.09%.

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.