Range Resources Co. (NYSE:RRC) Shares Bought by Raymond James & Associates

Posted by on Oct 28th, 2023

Raymond James & Associates grew its holdings in shares of Range Resources Co. (NYSE:RRC – Free Report) by 44.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,275 shares of the oil and gas exploration company’s stock after purchasing an additional 32,402 shares during the period. Raymond James & Associates’ holdings in Range Resources were worth $3,095,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RRC. Ameritas Advisory Services LLC purchased a new stake in Range Resources during the first quarter valued at about $42,000. International Assets Investment Management LLC acquired a new stake in Range Resources during the 1st quarter worth about $53,000. Clear Street Markets LLC acquired a new stake in Range Resources during the 1st quarter worth about $53,000. Steward Partners Investment Advisory LLC boosted its position in Range Resources by 37.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,564 shares of the oil and gas exploration company’s stock worth $68,000 after acquiring an additional 700 shares during the period. Finally, Belpointe Asset Management LLC boosted its position in Range Resources by 60.8% during the 1st quarter. Belpointe Asset Management LLC now owns 2,573 shares of the oil and gas exploration company’s stock worth $68,000 after acquiring an additional 973 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

Shares of NYSE RRC opened at $34.71 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.93 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $32.66 and its two-hundred day moving average is $30.01. The company has a market cap of $8.38 billion, a P/E ratio of 6.22, a P/E/G ratio of 0.62 and a beta of 2.09. Range Resources Co. has a 12 month low of $22.61 and a 12 month high of $35.80.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources’s dividend payout ratio is currently 5.73%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group raised their price objective on Range Resources from $24.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, August 17th. Siebert Williams Shank lowered Range Resources from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research report on Monday, August 14th. StockNews.com upgraded Range Resources from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Stephens reiterated an “overweight” rating and set a $34.00 price target on shares of Range Resources in a report on Tuesday, July 25th. Finally, Morgan Stanley lifted their price target on Range Resources from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.84.

Get Our Latest Stock Report on Range Resources

Range Resources Profile

(Free Report)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; 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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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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