OneDigital Investment Advisors LLC Invests $2.45 Million in Range Resources Corporation $RRC

OneDigital Investment Advisors LLC purchased a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 65,797 shares of the oil and gas exploration company’s stock, valued at approximately $2,447,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Seelaus Asset Management LLC raised its holdings in shares of Range Resources by 2.6% in the 1st quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after purchasing an additional 250 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Range Resources by 37.8% during 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 purchasing an additional 276 shares in the last quarter. UMB Bank n.a. increased its holdings in Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after buying an additional 279 shares during the period. Confluence Wealth Services Inc. increased its holdings in Range Resources by 3.2% during the fourth quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 312 shares during the period. Finally, Harbor Investment Advisory LLC raised its stake in Range Resources by 0.9% in the first quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock worth $1,745,000 after buying an additional 330 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director directly owned 13,421 shares in the company, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. Bank of America boosted their price target on Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Stephens upped their price objective on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Truist Financial dropped their price objective on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Finally, Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.35.

Range Resources Price Performance

Shares of RRC opened at $40.31 on Monday. The company has a 50 day moving average of $37.94 and a two-hundred day moving average of $39.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 11.14 and a beta of 0.42.

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

Range Resources Announces Dividend

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

About Range Resources

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.