Proficio Capital Partners LLC Takes $1.19 Million Position in Range Resources Co. (NYSE:RRC)

Proficio Capital Partners LLC purchased a new stake in Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,123 shares of the oil and gas exploration company's stock, valued at approximately $1,192,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Range Resources during the 3rd quarter worth $25,000. UMB Bank n.a. boosted its holdings in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after buying an additional 426 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Range Resources during the fourth quarter worth about $46,000. Versant Capital Management Inc lifted its position in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after acquiring an additional 463 shares during the period. Finally, Quent Capital LLC boosted its position in Range Resources by 72.0% during the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after purchasing an additional 912 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analyst Weigh In

RRC has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of Range Resources from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Truist Financial lifted their price objective on Range Resources from $31.00 to $35.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Barclays set a $43.00 target price on shares of Range Resources and gave the company an "equal weight" rating in a report on Thursday, February 27th. Scotiabank lowered shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Finally, StockNews.com cut Range Resources from a "hold" rating to a "sell" rating in a report on Friday. Four analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.11.

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Range Resources Stock Up 2.8 %

Shares of RRC stock traded up $1.04 during mid-day trading on Tuesday, reaching $37.50. 2,963,226 shares of the company were exchanged, compared to its average volume of 2,317,461. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $9.05 billion, a P/E ratio of 18.94, a P/E/G ratio of 5.11 and a beta of 1.80. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The business's 50 day simple moving average is $38.17 and its 200 day simple moving average is $34.23.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the business earned $0.63 earnings per share. Research analysts predict that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is 32.73%.

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.