Octavia Wealth Advisors LLC Acquires 590 Shares of Range Resources Co. (NYSE:RRC)

Octavia Wealth Advisors LLC grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,857 shares of the oil and gas exploration company’s stock after acquiring an additional 590 shares during the period. Octavia Wealth Advisors LLC’s holdings in Range Resources were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new stake in shares of Range Resources during the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources during the 3rd quarter valued at $27,000. Lazard Asset Management LLC bought a new stake in shares of Range Resources during the 2nd quarter valued at $28,000. Proffitt & Goodson Inc. purchased a new position in shares of Range Resources during the 3rd quarter valued at $32,000. Finally, Larson Financial Group LLC lifted its stake in shares of Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.7 %

Shares of NYSE RRC opened at $34.72 on Thursday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 9.81 and a beta of 1.83. Range Resources Co. has a 12-month low of $23.92 and a 12-month high of $37.88. The firm’s 50-day moving average price is $32.76 and its 200-day moving average price is $32.20. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRC) last issued its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. The business had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company’s revenue for the quarter was down 42.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. On average, equities research analysts anticipate that Range Resources Co. will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Range Resources’s dividend payout ratio is currently 9.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Susquehanna restated a “neutral” rating and set a $34.00 target price (down previously from $43.00) on shares of Range Resources in a research note on Friday, January 26th. Morgan Stanley lifted their target price on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday. Piper Sandler lowered their target price on shares of Range Resources from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, March 7th. Finally, Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.75.

Range Resources Company Profile

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.