Caerus Investment Advisors LLC Takes Position in Range Resources Corporation $RRC

Caerus Investment Advisors LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,625 shares of the oil and gas exploration company’s stock, valued at approximately $513,000.

Several other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC grew its holdings in shares of Range Resources by 116.3% during the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 336 shares during the last quarter. Allworth Financial LP lifted its position in Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 731 shares in the last quarter. Clearstead Advisors LLC lifted its position in Range Resources by 439.5% during the 3rd quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock worth $79,000 after buying an additional 1,714 shares in the last quarter. Finally, MAI Capital Management bought a new stake in Range Resources during the 2nd quarter worth about $87,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.5%

Shares of NYSE:RRC opened at $43.39 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.40 and a beta of 0.57. The company has a 50 day moving average of $37.79 and a 200-day moving average of $37.09. Range Resources Corporation has a one year low of $30.32 and a one year high of $44.56.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The business had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. During the same period in the prior year, the business posted $0.68 earnings per share. Range Resources’s revenue was up 30.9% compared to the same quarter last year. On average, sell-side analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.10 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is currently 14.60%.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Piper Sandler increased their price target on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Mizuho boosted their price objective on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Wells Fargo & Company upped their price objective on Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.44.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.