Janus Henderson Group PLC grew its holdings in shares of Range Resources Corporation (NYSE:RRC – Free Report) by 125.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,322 shares of the oil and gas exploration company’s stock after purchasing an additional 135,789 shares during the period. Janus Henderson Group PLC owned about 0.10% of Range Resources worth $11,040,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Range Resources by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after buying an additional 326,748 shares during the period. Vanguard Group Inc. boosted its position in Range Resources by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after buying an additional 701,751 shares during the period. Boston Partners grew its stake in shares of Range Resources by 14.0% in the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after acquiring an additional 1,650,258 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Range Resources by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after acquiring an additional 227,711 shares in the last quarter. Finally, Kopernik Global Investors LLC increased its position in shares of Range Resources by 18.5% during the fourth quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after acquiring an additional 818,295 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on RRC. Bank of America lifted their target price on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Raymond James Financial set a $45.00 price target on Range Resources in a research report on Monday, July 27th. Susquehanna decreased their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Morgan Stanley lowered their price objective on Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Finally, Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.35.
Range Resources Stock Performance
NYSE:RRC opened at $39.72 on Wednesday. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $9.28 billion, a PE ratio of 10.97 and a beta of 0.42. The business’s fifty day moving average price is $37.94 and its 200 day moving average price is $39.73.
Range Resources (NYSE:RRC – Get Free Report) last announced 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 company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same period in the previous year, the business earned $0.66 EPS. Range Resources’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.
Range Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s payout ratio is presently 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.
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