3,285 Shares in Range Resources Co. (NYSE:RRC) Purchased by ORG Partners LLC

ORG Partners LLC purchased a new position in Range Resources Co. (NYSE:RRC) during the second quarter, HoldingsChannel reports. The firm purchased 3,285 shares of the oil and gas exploration company’s stock, valued at approximately $110,000.

A number of other hedge funds also recently bought and sold shares of RRC. Benjamin F. Edwards & Company Inc. increased its position in shares of Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 666 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Range Resources during the 4th quarter valued at about $52,000. Perkins Coie Trust Co purchased a new stake in shares of Range Resources during the 2nd quarter valued at about $67,000. Private Wealth Management Group LLC purchased a new stake in shares of Range Resources during the 4th quarter valued at about $73,000. Finally, SYSTM Wealth Solutions LLC increased its position in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 0.9 %

Shares of Range Resources stock traded up $0.28 during trading on Thursday, hitting $30.24. 341,405 shares of the stock traded hands, compared to its average volume of 2,444,778. The firm has a market cap of $7.34 billion, a P/E ratio of 15.20 and a beta of 1.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33. The stock’s fifty day simple moving average is $33.12 and its 200 day simple moving average is $33.59.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts predict that Range Resources Co. will post 2.08 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 1.06%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 1,460 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Range Resources news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the sale, the director now directly owns 15,253 shares in the company, valued at approximately $589,986.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the completion of the transaction, the chief executive officer now owns 198,154 shares of the company’s stock, valued at $7,486,258.12. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RRC shares. Susquehanna reduced their target price on shares of Range Resources from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Wells Fargo & Company reduced their target price on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Wolfe Research began coverage on Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler downgraded Range Resources from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $43.00 to $31.00 in a research note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average price target of $36.63.

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.