Aptus Capital Advisors LLC Has $6.92 Million Stock Position in Range Resources Corporation $RRC

Key Points

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Aptus Capital Advisors LLC increased its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,320 shares of the oil and gas exploration company's stock after buying an additional 36,498 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.07% of Range Resources worth $6,921,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of Range Resources in the 1st quarter valued at approximately $33,000. Bessemer Group Inc. boosted its holdings in shares of Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after buying an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Range Resources in the 1st quarter valued at approximately $39,000. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after buying an additional 355 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Range Resources by 124.9% in the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after buying an additional 1,434 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Performance

RRC stock traded up $0.1370 during trading hours on Friday, hitting $33.3270. 2,148,133 shares of the stock were exchanged, compared to its average volume of 2,287,389. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $7.94 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.27 and a beta of 0.60. The company has a 50-day simple moving average of $37.35 and a two-hundred day simple moving average of $37.43. Range Resources Corporation has a 12 month low of $27.55 and a 12 month high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter last year, the business earned $0.46 EPS. On average, analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 1.1%. Range Resources's dividend payout ratio (DPR) is presently 18.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Roth Capital cut Range Resources from a "buy" rating to a "neutral" rating and dropped their price target for the company from $44.00 to $35.00 in a research note on Monday, August 18th. UBS Group dropped their price target on Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday. Mizuho increased their price target on Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Piper Sandler dropped their price target on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, Scotiabank set a $46.00 price target on Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $42.75.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total transaction of $168,672.00. Following the transaction, the director owned 13,663 shares in the company, valued at $548,706.08. This trade represents a 23.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

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.