OneDigital Investment Advisors LLC Increases Stock Holdings in Range Resources Co. (NYSE:RRC)

OneDigital Investment Advisors LLC raised its holdings in Range Resources Co. (NYSE:RRC) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,260 shares of the oil and gas exploration company’s stock after buying an additional 1,542 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Range Resources were worth $2,024,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares during the last quarter. UMB Bank n.a. lifted its position in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares during the period. Headlands Technologies LLC purchased a new stake in Range Resources during the 4th quarter valued at about $42,000. Geneos Wealth Management Inc. acquired a new position in Range Resources in the 4th quarter worth approximately $46,000. Finally, Versant Capital Management Inc raised its position 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 buying an additional 463 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Piper Sandler lowered their target price on Range Resources from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, January 3rd. Finally, UBS Group lowered their price objective on Range Resources from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.45.

Range Resources Stock Up 2.3 %

Shares of RRC opened at $34.07 on Thursday. The stock has a 50 day moving average price of $36.90 and a 200 day moving average price of $35.68. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. 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 stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during 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 firm earned $0.63 earnings per share. Equities research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) 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.