OneDigital Investment Advisors LLC Boosts Stock Holdings in Range Resources Co. (NYSE:RRC)

OneDigital Investment Advisors LLC grew its stake in shares of Range Resources Co. (NYSE:RRC) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,718 shares of the oil and gas exploration company’s stock after buying an additional 5,517 shares during the period. OneDigital Investment Advisors LLC’s holdings in Range Resources were worth $1,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RRC. State Board of Administration of Florida Retirement System grew its position in Range Resources by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock valued at $5,499,000 after acquiring an additional 16,619 shares during the period. Vanguard Group Inc. grew its holdings in shares of Range Resources by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after purchasing an additional 959,011 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Range Resources during the 1st quarter worth approximately $220,000. CANADA LIFE ASSURANCE Co raised its holdings in Range Resources by 0.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 138,482 shares of the oil and gas exploration company’s stock valued at $4,770,000 after buying an additional 1,183 shares during the period. Finally, Herr Investment Group LLC raised its holdings in Range Resources by 4,594.4% in the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after buying an additional 487,011 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Range Resources Stock Performance

Shares of Range Resources stock opened at $33.44 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The firm’s 50-day simple moving average is $30.97 and its 200-day simple moving average is $32.58. The firm has a market cap of $8.07 billion, a PE ratio of 16.89 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. Range Resources’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Equities analysts forecast that Range Resources Co. will post 1.89 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.16%.

Analysts Set New Price Targets

RRC has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research report on Thursday, July 25th. Piper Sandler downgraded Range Resources from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $43.00 to $31.00 in a report on Thursday, August 15th. Bank of America initiated coverage on Range Resources in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Finally, Stephens boosted their price target on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.00.

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.