Mills Wealth Advisors LLC Invests $517,000 in Range Resources Corporation $RRC

Mills Wealth Advisors LLC bought a new position in shares of Range Resources Corporation (NYSE:RRC) in the second quarter, Holdings Channel.com reports. The fund bought 12,707 shares of the oil and gas exploration company’s stock, valued at approximately $517,000.

A number of other large investors have also modified their holdings of RRC. King Luther Capital Management Corp grew its holdings in shares of Range Resources by 2,522.3% during the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company’s stock worth $32,888,000 after buying an additional 792,240 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Range Resources by 3,222.9% during the first quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company’s stock worth $21,528,000 after buying an additional 522,910 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Range Resources during the first quarter worth $19,396,000. Wellington Management Group LLP grew its holdings in shares of Range Resources by 50.1% during the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock worth $56,103,000 after buying an additional 468,841 shares in the last quarter. Finally, Beck Bode LLC purchased a new stake in shares of Range Resources during the first quarter worth $15,651,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 3.2%

NYSE RRC opened at $37.12 on Tuesday. The firm’s 50-day moving average is $35.62 and its two-hundred day moving average is $36.74. Range Resources Corporation has a 12 month low of $29.48 and a 12 month high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $8.84 billion, a P/E ratio of 18.65, a PEG ratio of 0.32 and a beta of 0.51.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The company had revenue of $856.28 million for the quarter, compared to analysts’ expectations of $708.38 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio is presently 18.09%.

Analyst Ratings Changes

RRC has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. UBS Group dropped their price objective on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Royal Bank Of Canada upped their price objective on shares of Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Citigroup dropped their price objective on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Finally, Scotiabank set a $46.00 price objective on shares of Range Resources and gave the company a “sector perform” rating in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.05.

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.