Outlook Wealth Advisors LLC Increases Stock Position in Range Resources Co. (NYSE:RRC)

Outlook Wealth Advisors LLC grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 28.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,181 shares of the oil and gas exploration company’s stock after purchasing an additional 2,051 shares during the period. Outlook Wealth Advisors LLC’s holdings in Range Resources were worth $316,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Boston Partners boosted its stake in shares of Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after acquiring an additional 6,070,900 shares in the last quarter. Invesco Ltd. increased its position in shares of Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after buying an additional 693,970 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Range Resources during the 3rd quarter worth $19,704,000. Lord Abbett & CO. LLC boosted its position in shares of Range Resources by 66.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock worth $47,416,000 after buying an additional 585,000 shares in the last quarter. Finally, Canoe Financial LP grew its stake in Range Resources by 86.5% in the 3rd quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock valued at $38,743,000 after acquiring an additional 554,400 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James reduced their price target on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Piper Sandler raised their price target on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Susquehanna upped their price objective on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Finally, Citigroup upped their target price on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $36.65.

Insider Buying and Selling

In other news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the sale, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.57% of the company’s stock.

Range Resources Stock Performance

Shares of Range Resources stock traded down $0.34 during trading hours on Friday, reaching $37.31. The company’s stock had a trading volume of 2,583,165 shares, compared to its average volume of 2,248,659. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.49 and a current ratio of 1.35. Range Resources Co. has a one year low of $23.92 and a one year high of $38.25. The company’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $32.42. The stock has a market cap of $9.05 billion, a P/E ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the firm posted $0.96 earnings per share. Range Resources’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, analysts expect that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

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.