Cetera Investment Advisers Has $2.66 Million Stake in Range Resources Co. (NYSE:RRC)

Cetera Investment Advisers raised its position in shares of Range Resources Co. (NYSE:RRC) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,942 shares of the oil and gas exploration company’s stock after buying an additional 1,473 shares during the period. Cetera Investment Advisers’ holdings in Range Resources were worth $2,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RRC. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Range Resources during the fourth quarter worth approximately $33,684,000. Amundi increased its holdings in shares of Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after purchasing an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after purchasing an additional 605,315 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Buying and Selling

In other Range Resources news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the sale, the director now owns 54,394 shares of the company’s stock, valued at $1,905,421.82. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of Range Resources stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the sale, the senior vice president now directly owns 13,800 shares in the company, valued at $560,556. This represents a 40.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,880 shares of company stock valued at $2,815,807. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRC shares. Truist Financial upped their price objective on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, March 17th. Morgan Stanley set a $41.00 price objective on Range Resources in a research report on Tuesday, April 15th. Piper Sandler increased their price objective on Range Resources from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. StockNews.com upgraded Range Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group increased their price objective on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.85.

Range Resources Stock Performance

Shares of Range Resources stock opened at $40.11 on Friday. The company has a market capitalization of $9.59 billion, a PE ratio of 20.26, a PEG ratio of 5.11 and a beta of 0.60. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $36.56 and its 200 day simple moving average is $36.41.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter last year, the business posted $0.63 EPS. On average, research analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.90%. The ex-dividend date was Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is presently 32.14%.

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.