Howe & Rusling Inc. Boosts Holdings in Range Resources Corporation $RRC

Howe & Rusling Inc. boosted its holdings in shares of Range Resources Corporation (NYSE:RRC) by 2.3% in the second quarter, HoldingsChannel.com reports. The fund owned 268,383 shares of the oil and gas exploration company’s stock after buying an additional 6,001 shares during the quarter. Howe & Rusling Inc.’s holdings in Range Resources were worth $10,915,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RRC. Hantz Financial Services Inc. increased its stake in shares of Range Resources by 1,464.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 703 shares in the last quarter. Barrett & Company Inc. acquired a new stake in Range Resources during the 2nd quarter valued at $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Range Resources during the 2nd quarter valued at $45,000. Allworth Financial LP increased its position in Range Resources by 196.5% during the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 731 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in Range Resources during the second quarter worth $47,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 0.7%

Shares of RRC stock opened at $39.32 on Thursday. The firm’s 50-day simple moving average is $37.06 and its 200-day simple moving average is $37.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.55. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50. The firm has a market cap of $9.32 billion, a P/E ratio of 16.52, a PEG ratio of 0.39 and a beta of 0.50.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $655.30 million during the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. Range Resources’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. As a group, equities analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RRC. Citigroup reduced their price objective on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Susquehanna reduced their target price on shares of Range Resources to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Range Resources in a research note on Thursday, November 13th. Wells Fargo & Company upgraded shares of Range Resources to a “strong-buy” rating in a report on Thursday, October 16th. Finally, Roth Capital downgraded shares of Range Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $35.00 in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.85.

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.