Aristotle Capital Boston LLC cut its holdings in Range Resources Corporation (NYSE:RRC – Free Report) by 8.2% during the 4th quarter, HoldingsChannel reports. The fund owned 372,346 shares of the oil and gas exploration company’s stock after selling 33,090 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Range Resources were worth $13,129,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. grew its stake in shares of Range Resources by 13.0% in the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after acquiring an additional 279 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after acquiring an additional 302 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Range Resources by 3.2% in the fourth quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its stake 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 acquiring an additional 336 shares in the last quarter. Finally, AMG National Trust Bank grew its stake in shares of Range Resources by 0.9% in the third quarter. AMG National Trust Bank now owns 41,986 shares of the oil and gas exploration company’s stock valued at $1,580,000 after acquiring an additional 386 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RRC has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Piper Sandler upped their price target on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Bank of America upped their price target 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. Finally, Barclays increased their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.00.
Range Resources Trading Down 2.3%
Shares of Range Resources stock opened at $36.67 on Thursday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 9.70 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 Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The firm’s 50-day moving average price is $40.98 and its two-hundred day moving average price is $39.35.
Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. On average, analysts forecast that Range Resources Corporation will post 3.71 earnings per share for the current fiscal year.
Range Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 12th. Range Resources’s dividend payout ratio is presently 10.58%.
Insider Transactions at Range Resources
In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.
Range Resources Company 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.
Further Reading
- Five stocks we like better than Range Resources
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC – Free Report).
Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter.
