Stanley Laman Group Ltd. Purchases New Shares in Range Resources Corporation $RRC

Stanley Laman Group Ltd. purchased a new stake in Range Resources Corporation (NYSE:RRC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 81,958 shares of the oil and gas exploration company’s stock, valued at approximately $2,890,000.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 541 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 336 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 1,714 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Range Resources by 206.4% in the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock valued at $87,000 after buying an additional 1,550 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of Range Resources in the third quarter valued at about $96,000. 98.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen boosted their price objective on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, March 17th. Zacks Research raised Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Barclays boosted their price objective on Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Morgan Stanley dropped their price objective on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Finally, Royal Bank Of Canada dropped their price objective on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.06.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $42.89 on Monday. The stock has a market capitalization of $10.10 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.35 and a beta of 0.51. Range Resources Corporation has a 1-year low of $31.82 and a 1-year high of $48.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $41.20 and a two-hundred day moving average price of $38.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Equities analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is presently 14.60%.

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.