Hsbc Holdings PLC boosted its holdings in Range Resources Corporation (NYSE:RRC – Free Report) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 427,713 shares of the oil and gas exploration company’s stock after purchasing an additional 79,533 shares during the quarter. Hsbc Holdings PLC’s holdings in Range Resources were worth $14,966,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in RRC. Boston Partners boosted its position in shares of Range Resources by 59.3% in the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after purchasing an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC increased its position in Range Resources by 517.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock valued at $91,852,000 after buying an additional 2,045,165 shares in the last quarter. Holocene Advisors LP purchased a new position in Range Resources during the third quarter valued at $66,560,000. UBS Group AG boosted its holdings in Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock worth $126,532,000 after acquiring an additional 1,430,477 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Range Resources by 54.1% in the fourth quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company’s stock worth $115,202,000 after acquiring an additional 1,147,304 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on RRC. Weiss Ratings downgraded Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 2nd. Bank of America raised their price objective on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Piper Sandler raised their price target on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Barclays boosted their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.94.
Range Resources Stock Performance
Shares of RRC stock opened at $36.30 on Friday. The company has a 50 day moving average price of $40.24 and a 200-day moving average price of $39.23. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31. The firm has a market capitalization of $8.55 billion, a PE ratio of 9.60 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.
Range Resources (NYSE:RRC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, equities research analysts expect that Range Resources Corporation will post 3.71 earnings per share for the current year.
Range Resources Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 12th. Range Resources’s dividend payout ratio is presently 10.58%.
Insider Buying and Selling at Range Resources
In other news, Director Brenda A. Cline sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.
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.
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