CW Advisors LLC Purchases 25,621 Shares of Range Resources Corporation $RRC

Key Points

• CW Advisors LLC increased its holdings in Range Resources Corporation by 32.4%, owning 104,658 shares valued at approximately $4.18 million as of its recent SEC filing.
• Range Resources reported an EPS of $0.66 for the last quarter, surpassing analysts' expectations, and its revenue reached $856.28 million, significantly above estimates.
• The company's stock has received various ratings from analysts, with a consensus target price of $42.75 and a majority rating it as a "Hold".

CW Advisors LLC lifted its position in Range Resources Corporation (NYSE:RRC - Free Report) by 32.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,658 shares of the oil and gas exploration company's stock after purchasing an additional 25,621 shares during the quarter. CW Advisors LLC's holdings in Range Resources were worth $4,180,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RRC. Mariner LLC raised its stake in shares of Range Resources by 6.1% in the fourth quarter. Mariner LLC now owns 16,575 shares of the oil and gas exploration company's stock valued at $596,000 after purchasing an additional 960 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Range Resources by 1.9% in the fourth quarter. First Trust Advisors LP now owns 801,881 shares of the oil and gas exploration company's stock valued at $28,852,000 after purchasing an additional 14,819 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Range Resources by 133.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,123 shares of the oil and gas exploration company's stock valued at $580,000 after purchasing an additional 9,221 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Range Resources by 121.9% in the fourth quarter. Stifel Financial Corp now owns 159,701 shares of the oil and gas exploration company's stock valued at $5,746,000 after purchasing an additional 87,716 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in Range Resources by 42.2% in the fourth quarter. Pinebridge Investments L.P. now owns 82,307 shares of the oil and gas exploration company's stock valued at $2,961,000 after acquiring an additional 24,417 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

Shares of RRC stock traded up $0.01 during trading hours on Friday, hitting $34.45. 447,920 shares of the company's stock were exchanged, compared to its average volume of 2,847,299. The stock's 50-day moving average is $36.68 and its 200-day moving average is $37.31. 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 has a market cap of $8.21 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.28 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 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 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 in the prior year, the business earned $0.46 earnings per share. As a group, research analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources's payout ratio is presently 18.09%.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of analyst reports. Barclays upped their price target on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Wall Street Zen cut Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. UBS Group lowered their price target on Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Roth Capital cut Range Resources from a "buy" rating to a "neutral" rating and lowered their price target for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Finally, Piper Sandler lowered their price target on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.75.

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.