Susquehanna Advisors Group Inc. purchased a new position in shares of Range Resources Corporation (NYSE:RRC – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 49,553 shares of the oil and gas exploration company’s stock, valued at approximately $1,843,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Range Resources in the second quarter valued at $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Range Resources in the 2nd quarter worth about $31,000. Los Angeles Capital Management LLC acquired a new stake in Range Resources in the 4th quarter worth about $34,000. Root Financial Partners LLC grew its holdings in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 276 shares during the period. Finally, Trust Co. of Vermont purchased a new stake in Range Resources in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.
Analyst Upgrades and Downgrades
RRC has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Wells Fargo & Company dropped their price target on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Morgan Stanley cut their price target 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. Barclays decreased their price target on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.75.
Insider Buying and Selling at Range Resources
In related news, Director Reginal Spiller sold 3,500 shares of the company’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 completion of the sale, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
Range Resources Stock Up 0.1%
Shares of NYSE:RRC opened at $41.52 on Monday. The stock has a 50-day simple moving average of $38.55 and a 200-day simple moving average of $40.28. The stock has a market capitalization of $9.70 billion, a P/E ratio of 11.47 and a beta of 0.42. Range Resources Corporation has a 1 year low of $32.68 and a 1 year high of $48.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.
Range Resources (NYSE:RRC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. Range Resources’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. Equities analysts forecast that Range Resources Corporation will post 3.62 earnings per share for the current year.
Range Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.
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.
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