Kingsview Wealth Management LLC Buys New Shares in Range Resources Corporation $RRC

Kingsview Wealth Management LLC bought a new position in Range Resources Corporation (NYSE:RRC) in the second quarter, Holdings Channel.com reports. The firm bought 86,962 shares of the oil and gas exploration company’s stock, valued at approximately $3,234,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Range Resources during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Range Resources in the second quarter worth about $31,000. Los Angeles Capital Management LLC purchased a new position in shares of Range Resources in the fourth quarter worth about $34,000. Root Financial Partners LLC lifted its holdings 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 worth $45,000 after purchasing an additional 276 shares during the period. Finally, Trust Co. of Vermont acquired a new stake in shares of Range Resources during the second quarter worth about $45,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Range Resources Stock Down 0.3%

Shares of RRC stock opened at $41.52 on Friday. Range Resources Corporation has a twelve month low of $32.68 and a twelve month high of $48.31. The stock has a market cap of $9.70 billion, a P/E ratio of 11.47 and a beta of 0.42. The stock has a 50 day moving average of $38.55 and a 200 day moving average of $40.25. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, sell-side analysts expect that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio is 11.05%.

Analyst Ratings Changes

A number of brokerages recently commented on RRC. Wells Fargo & Company dropped their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Citigroup restated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Susquehanna dropped their price objective on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Raymond James Financial set a $45.00 price objective on shares of Range Resources in a report on Monday, July 27th. Finally, Morgan Stanley cut their price objective on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.75.

Range Resources 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.