Tradewinds Capital Management LLC Takes $138,000 Position in Range Resources Co. (NYSE:RRC)

Tradewinds Capital Management LLC purchased a new stake in shares of Range Resources Co. (NYSE:RRC) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,000 shares of the oil and gas exploration company’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State of Michigan Retirement System boosted its position in shares of Range Resources by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 59,286 shares of the oil and gas exploration company’s stock valued at $2,041,000 after acquiring an additional 1,400 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Range Resources by 191.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock valued at $485,000 after buying an additional 9,243 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in Range Resources by 137.4% in the first quarter. Miller Howard Investments Inc. NY now owns 100,907 shares of the oil and gas exploration company’s stock valued at $3,474,000 after buying an additional 58,406 shares during the last quarter. Anderson Hoagland & Co. lifted its position in Range Resources by 4.7% in the first quarter. Anderson Hoagland & Co. now owns 69,812 shares of the oil and gas exploration company’s stock valued at $2,536,000 after buying an additional 3,162 shares during the last quarter. Finally, Orser Capital Management LLC lifted its position in Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Up 0.2 %

Range Resources stock traded up $0.08 during mid-day trading on Wednesday, hitting $34.23. The company had a trading volume of 349,846 shares, compared to its average volume of 2,507,634. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 17.34 and a beta of 1.88. Range Resources Co. has a 1 year low of $27.60 and a 1 year high of $39.33. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $35.99 and a 200 day moving average of $33.24.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, sell-side analysts expect that Range Resources Co. will post 2.12 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared 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 was Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 0.93%. Range Resources’s dividend payout ratio is currently 16.24%.

Wall Street Analyst Weigh In

A number of research analysts have commented on RRC shares. Piper Sandler upped their target price on shares of Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. 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 research report on Wednesday, April 3rd. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their price target for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Morgan Stanley increased their price target on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Finally, Stephens increased their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.10.

Insider Transactions at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,500 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at approximately $160,983.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Range Resources news, Director Charles G. Griffie bought 1,500 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at approximately $160,983.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reginal Spiller sold 1,460 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the sale, the director now directly owns 15,253 shares of the company’s stock, valued at $589,986.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,107 shares of company stock worth $7,379,095. Insiders own 2.50% of the company’s stock.

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.