Empowered Funds LLC Makes New Investment in Range Resources Co. (NYSE:RRC)

Empowered Funds LLC purchased a new position in shares of Range Resources Co. (NYSE:RRCGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 43,704 shares of the oil and gas exploration company’s stock, valued at approximately $1,104,000.

A number of other large investors also recently bought and sold shares of RRC. King Luther Capital Management Corp raised its stake in shares of Range Resources by 1.9% in the 2nd quarter. King Luther Capital Management Corp now owns 17,320 shares of the oil and gas exploration company’s stock valued at $429,000 after acquiring an additional 320 shares during the period. Gagnon Securities LLC raised its stake in shares of Range Resources by 1.6% in the 2nd quarter. Gagnon Securities LLC now owns 22,837 shares of the oil and gas exploration company’s stock valued at $565,000 after acquiring an additional 367 shares during the period. CWM LLC raised its stake in shares of Range Resources by 64.9% in the 2nd quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 470 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Range Resources by 34.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock valued at $49,000 after acquiring an additional 509 shares during the period. Finally, Strs Ohio raised its stake in shares of Range Resources by 2.6% in the 3rd quarter. Strs Ohio now owns 21,645 shares of the oil and gas exploration company’s stock valued at $546,000 after acquiring an additional 541 shares during the period. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Range Resources Trading Down 3.0 %

NYSE RRC opened at $26.08 on Wednesday. Range Resources Co. has a one year low of $17.35 and a one year high of $37.44. The company has a 50-day simple moving average of $26.32 and a 200-day simple moving average of $28.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market capitalization of $6.30 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.23 and a beta of 2.11.

Range Resources (NYSE:RRCGet Rating) last posted its quarterly earnings results on Monday, October 24th. The oil and gas exploration company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. Range Resources had a net margin of 30.87% and a return on equity of 60.30%. The company’s quarterly revenue was up 267.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. On average, equities analysts forecast that Range Resources Co. will post 4.85 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Wednesday, December 14th. Range Resources’s payout ratio is 6.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Credit Suisse Group cut their target price on shares of Range Resources from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 25th. Benchmark downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company assumed coverage on shares of Range Resources in a research note on Tuesday. They set an “equal weight” rating on the stock. StockNews.com assumed coverage on shares of Range Resources in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Range Resources in a research note on Tuesday, October 25th. They set a “buy” rating and a $32.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $35.25.

About Range Resources

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Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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