49,625 Shares in Range Resources Corporation $RRC Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC acquired a new stake in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 49,625 shares of the oil and gas exploration company’s stock, valued at approximately $1,880,000.

A number of other hedge funds have also recently modified their holdings of the stock. Seelaus Asset Management LLC grew its position in Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after buying an additional 250 shares during the period. Root Financial Partners LLC boosted its stake in shares of Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 276 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 279 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after acquiring an additional 312 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its position in shares of Range Resources by 0.9% in the first quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Range Resources Stock Up 1.3%

RRC stock opened at $40.38 on Thursday. Range Resources Corporation has a one year low of $32.60 and a one year high of $48.31. The company has a fifty day moving average of $37.99 and a 200-day moving average of $40.04. The stock has a market capitalization of $9.44 billion, a PE ratio of 11.15 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same period in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, analysts expect that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s payout ratio is presently 11.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RRC shares. Stephens raised their price objective on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. The Goldman Sachs Group reduced their target price on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Finally, Raymond James Financial set a $45.00 target price on shares of Range Resources in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.75.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.