Mills Wealth Advisors LLC Acquires Shares of 12,707 Range Resources Corporation $RRC

Key Points

• Mills Wealth Advisors LLC acquired 12,707 shares of Range Resources Corporation, valued at approximately $517,000, during the second quarter as per their latest SEC filing.
• Several institutional investors increased their stakes in Range Resources, with 98.93% of the company's stock currently held by such investors and hedge funds.
• Wall Street analysts have generally set a "neutral" rating for Range Resources, with a consensus price target around $42.05, reflecting recent reductions in their target prices for the stock.

Mills Wealth Advisors LLC acquired a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,707 shares of the oil and gas exploration company's stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Range Resources by 4.7% during the 2nd quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company's stock valued at $245,000 after acquiring an additional 270 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Range Resources by 0.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company's stock valued at $2,981,000 after acquiring an additional 299 shares during the period. Bessemer Group Inc. lifted its stake in Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after acquiring an additional 315 shares during the period. Xponance Inc. lifted its stake in Range Resources by 1.2% during the 1st quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock valued at $1,099,000 after acquiring an additional 326 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Range Resources by 0.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company's stock valued at $2,636,000 after purchasing an additional 328 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RRC shares. UBS Group decreased their target price on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Susquehanna decreased their target price on shares of Range Resources to $39.00 and set a "neutral" rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their target price on shares of Range Resources from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, October 6th. Raymond James Financial decreased their target price on shares of Range Resources from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Friday, September 19th. Finally, Roth Capital cut shares of Range Resources from a "buy" rating to a "neutral" rating and decreased their target price for the company from $44.00 to $35.00 in a research note on Monday, August 18th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $42.05.

Range Resources Price Performance

Shares of NYSE RRC opened at $37.12 on Tuesday. The firm has a market cap of $8.84 billion, a PE ratio of 18.65, a PEG ratio of 0.32 and a beta of 0.51. The firm has a fifty day moving average of $35.62 and a 200 day moving average of $36.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a one year low of $29.48 and a one year high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, research analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources's payout ratio is presently 18.09%.

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.

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