Gibbs Wealth Management Makes New $604,000 Investment in Range Resources Corporation $RRC

Gibbs Wealth Management acquired a new position in Range Resources Corporation (NYSE:RRC) during the first quarter, according to its most recent filing with the SEC. The firm acquired 13,379 shares of the oil and gas exploration company’s stock, valued at approximately $604,000.

Several other hedge funds have also recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of Range Resources during the fourth quarter valued at approximately $34,000. Root Financial Partners LLC boosted its holdings in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 276 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources during the 4th quarter valued at $57,000. Basepoint Wealth LLC purchased a new position in Range Resources during the 4th quarter valued at $61,000. Finally, International Assets Investment Management LLC bought a new position in Range Resources in the 4th quarter worth $71,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of Range Resources stock opened at $38.97 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.11 billion, a P/E ratio of 10.77 and a beta of 0.41. The business has a fifty day simple moving average of $38.23 and a two-hundred day simple moving average of $39.42. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. On average, equities analysts forecast that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s payout ratio is presently 11.05%.

Analyst Ratings Changes

Several research firms have recently commented on RRC. Wells Fargo & Company dropped their target price on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup reissued a “neutral” rating on shares of Range Resources in a research note on Thursday. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Finally, UBS Group cut their price objective on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.12.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.