Louisiana State Employees Retirement System purchased a new stake in shares of Range Resources Corporation (NYSE:RRC – Free Report) in the first quarter, Holdings Channel reports. The firm purchased 68,700 shares of the oil and gas exploration company’s stock, valued at approximately $3,104,000.
Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. increased its position in shares of Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after acquiring an additional 279 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Range Resources by 2.5% in the 3rd 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. boosted its stake in Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after purchasing an additional 312 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Range Resources by 4.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,165 shares of the oil and gas exploration company’s stock worth $369,000 after purchasing an additional 332 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Range Resources by 3.3% in the third quarter. Crossmark Global Holdings Inc. now owns 16,187 shares of the oil and gas exploration company’s stock worth $609,000 after purchasing an additional 512 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on RRC shares. Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Piper Sandler upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Bank of America increased their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Zacks Research lowered shares of Range Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Truist Financial cut their price target on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.94.
Range Resources Price Performance
Shares of NYSE:RRC opened at $37.37 on Monday. The firm has a market capitalization of $8.81 billion, a PE ratio of 9.89 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. The company has a 50-day moving average price of $40.17 and a two-hundred day moving average price of $39.23. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31.
Range Resources (NYSE:RRC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. Equities analysts forecast that Range Resources Corporation will post 3.71 EPS for the current year.
Range Resources Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is currently 10.58%.
Insider Transactions 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 shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director owned 28,668 shares in the company, valued at approximately $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 can be accessed through this link. 1.10% of the stock is currently owned by insiders.
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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