Beacon Harbor Wealth Advisors Inc. Buys Shares of 159,301 Range Resources Corporation (NYSE:RRC)

Key Points

• Beacon Harbor Wealth Advisors Inc. invested $6.36 million in Range Resources Corporation, acquiring 159,301 shares during the first quarter.
• The majority of Range Resources' stock, approximately 98.93%, is currently held by institutional investors and hedge funds.
• Range Resources reported a quarterly earnings per share (EPS) of $0.66, beating analysts' expectations and achieving a revenue of $856.28 million.

Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 159,301 shares of the oil and gas exploration company's stock, valued at approximately $6,361,000. Beacon Harbor Wealth Advisors Inc. owned 0.07% of Range Resources at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RRC. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after purchasing an additional 2,104,304 shares during the period. Wellington Management Group LLP acquired a new position in shares of Range Resources in the 4th quarter valued at $33,684,000. Dimensional Fund Advisors LP lifted its stake in shares of Range Resources by 9.3% in the 4th 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 during the period. Northern Trust Corp lifted its stake in shares of Range Resources by 37.1% in the 4th 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 during the period. Finally, Royal Bank of Canada lifted its stake in shares of Range Resources by 367.6% in the 4th quarter. Royal Bank of Canada now owns 685,721 shares of the oil and gas exploration company's stock valued at $24,673,000 after purchasing an additional 539,083 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Down 0.9%

Range Resources stock traded down $0.33 during trading on Friday, reaching $34.54. 1,868,825 shares of the company were exchanged, compared to its average volume of 2,876,450. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The stock's 50 day simple moving average is $38.41 and its two-hundred day simple moving average is $37.75. The company has a market capitalization of $8.23 billion, a P/E ratio of 17.36, a PEG ratio of 0.27 and a beta of 0.60. Range Resources Corporation has a 52-week low of $27.55 and a 52-week high of $43.50.

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

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources's payout ratio is 18.09%.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $39.00, for a total transaction of $502,320.00. Following the transaction, the vice president directly owned 1,723 shares of the company's stock, valued at $67,197. The trade was a 88.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction dated 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 directly owned 13,663 shares in the company, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,498 shares of company stock valued at $2,508,701 over the last three months. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RRC. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Piper Sandler boosted their price target on shares of Range Resources from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Bank of America boosted their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Scotiabank set a $46.00 price target on shares of Range Resources and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, Mizuho boosted their price target on shares of Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $43.37.

About Range Resources

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.