Range Resources Corporation $RRC Shares Purchased by Inceptionr LLC

Inceptionr LLC raised its holdings in Range Resources Corporation (NYSE:RRC) by 44.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 21,753 shares of the oil and gas exploration company’s stock after acquiring an additional 6,659 shares during the period. Inceptionr LLC’s holdings in Range Resources were worth $885,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hantz Financial Services Inc. boosted its position in shares of Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 703 shares during the last quarter. Barrett & Company Inc. acquired a new position in Range Resources during the second quarter worth approximately $41,000. Allworth Financial LP raised its stake in Range Resources by 196.5% during the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 731 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Range Resources during the second quarter worth approximately $45,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Range Resources during the 2nd quarter valued at $47,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Up 1.9%

RRC opened at $38.52 on Thursday. The firm’s 50 day moving average is $37.34 and its 200-day moving average is $37.35. Range Resources Corporation has a 52-week low of $30.32 and a 52-week high of $43.50. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.13 billion, a P/E ratio of 16.19, a P/E/G ratio of 0.39 and a beta of 0.49.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The business had revenue of $655.30 million during the quarter, compared to analyst estimates of $721.22 million. During the same period last year, the business earned $0.48 EPS. The business’s revenue was up 21.7% on a year-over-year basis. Analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is currently 15.13%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RRC shares. Roth Capital lowered Range Resources from a “buy” rating to a “neutral” rating and cut their target price for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. Morgan Stanley dropped their target price on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Piper Sandler reduced their target price on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Range Resources in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.85.

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.