denkapparat Operations GmbH Has $1.20 Million Holdings in Range Resources Corporation $RRC

denkapparat Operations GmbH increased its position in shares of Range Resources Corporation (NYSE:RRCFree Report) by 483.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 32,156 shares of the oil and gas exploration company’s stock after acquiring an additional 26,646 shares during the quarter. denkapparat Operations GmbH’s holdings in Range Resources were worth $1,196,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Range Resources during the 2nd quarter worth approximately $868,085,000. Boston Partners boosted its holdings 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 valued at $445,196,000 after purchasing an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Range Resources by 517.6% in 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 purchasing an additional 2,045,165 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Range Resources in the 2nd quarter valued at $67,470,000. Finally, Bank of America Corp DE acquired a new position in shares of Range Resources during the 2nd quarter worth $58,524,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

Range Resources stock opened at $42.40 on Friday. The stock has a 50-day moving average price of $39.01 and a two-hundred day moving average price of $40.44. Range Resources Corporation has a 12 month low of $32.68 and a 12 month high of $48.31. The company has a market capitalization of $9.91 billion, a PE ratio of 11.71 and a beta of 0.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRCGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $744.78 million. During the same period in the previous year, the business posted $0.66 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts expect that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 11th. This represents a $0.40 annualized dividend and a yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. The trade was a 20.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup restated a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. Wells Fargo & Company lowered their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Truist Financial dropped their target price on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. Raymond James Financial set a $45.00 price target on shares of Range Resources in a research note on Monday, July 27th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.75.

Check Out Our Latest Analysis on Range Resources

Range Resources Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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