Red Door Wealth Management LLC Invests $252,000 in Range Resources Co. (NYSE:RRC)

Red Door Wealth Management LLC purchased a new position in Range Resources Co. (NYSE:RRC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,000 shares of the oil and gas exploration company’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Range Resources in the third quarter worth approximately $25,000. UMB Bank n.a. raised its holdings in shares of Range Resources by 59.0% in 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 during the period. Blue Trust Inc. increased its holdings in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares during the period. Bogart Wealth LLC purchased a new position in Range Resources during the 3rd quarter worth $49,000. Finally, Versant Capital Management Inc increased its holdings in 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 worth $56,000 after purchasing an additional 463 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Down 1.0 %

Shares of RRC stock opened at $40.16 on Friday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The stock’s fifty day moving average price is $36.30 and its 200 day moving average price is $32.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 20.28 and a beta of 1.81.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. On average, research analysts expect that Range Resources Co. will post 2.04 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.80%. Range Resources’s payout ratio is presently 16.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Benchmark restated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Mizuho raised their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $35.00 in a report on Monday, December 9th. Finally, Stephens increased their target price on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $37.22.

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.