Xponance Inc. Raises Holdings in Range Resources Co. (NYSE:RRC)

Xponance Inc. increased its position in shares of Range Resources Co. (NYSE:RRC) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,187 shares of the oil and gas exploration company’s stock after purchasing an additional 579 shares during the quarter. Xponance Inc.’s holdings in Range Resources were worth $888,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new stake in shares of Range Resources during the third quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Range Resources during the third quarter worth approximately $27,000. Proffitt & Goodson Inc. purchased a new stake in shares of Range Resources during the third quarter worth approximately $32,000. Larson Financial Group LLC increased its position in shares of Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 490 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RRC. Piper Sandler boosted 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. StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Morgan Stanley boosted their price objective on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Wednesday. Finally, Truist Financial lowered their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.40.

Range Resources Price Performance

Shares of NYSE RRC opened at $37.69 on Friday. The stock’s 50-day moving average is $33.67 and its two-hundred day moving average is $32.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $38.25. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.58% and a net margin of 17.00%. The company had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the business earned $0.96 EPS. Range Resources’s revenue was down 15.7% on a year-over-year basis. Analysts forecast that Range Resources Co. will post 1.99 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.85%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Range Resources Company 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.