Outlook Wealth Advisors LLC Buys 2,051 Shares of Range Resources Co. (NYSE:RRC)

Outlook Wealth Advisors LLC boosted its stake in Range Resources Co. (NYSE:RRC) by 28.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,181 shares of the oil and gas exploration company’s stock after acquiring an additional 2,051 shares during the period. Outlook Wealth Advisors LLC’s holdings in Range Resources were worth $316,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RRC. Raymond James & Associates raised its stake in Range Resources by 2.6% during the 1st quarter. Raymond James & Associates now owns 238,877 shares of the oil and gas exploration company’s stock worth $8,225,000 after buying an additional 6,023 shares during the period. Norden Group LLC increased its stake in Range Resources by 1,599.9% during the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock valued at $5,154,000 after purchasing an additional 140,891 shares in the last quarter. Tradewinds Capital Management LLC acquired a new position in Range Resources during the first quarter worth $138,000. State of Michigan Retirement System lifted its stake in shares of Range Resources by 2.4% in the first quarter. State of Michigan Retirement System now owns 59,286 shares of the oil and gas exploration company’s stock valued at $2,041,000 after buying an additional 1,400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Range Resources by 191.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock valued at $485,000 after buying an additional 9,243 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday. Susquehanna upped their price target on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Truist Financial dropped their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Morgan Stanley upped their price objective on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Finally, Mizuho reaffirmed a “buy” rating and set a $41.00 price target (up from $39.00) on shares of Range Resources in a research report on Friday. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.65.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.57% of the company’s stock.

Range Resources Price Performance

Shares of Range Resources stock traded down $0.34 on Friday, hitting $37.31. 2,583,165 shares of the company traded hands, compared to its average volume of 2,248,659. The firm’s 50-day simple moving average is $33.80 and its 200 day simple moving average is $32.42. Range Resources Co. has a 12-month low of $23.92 and a 12-month high of $38.25. The company has a current ratio of 1.35, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.05 billion, a P/E ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was down 15.7% on a year-over-year basis. Analysts expect that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s payout ratio is 16.24%.

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.