Fielder Capital Group LLC Acquires New Holdings in Range Resources Corporation $RRC

Fielder Capital Group LLC bought a new position in shares of Range Resources Corporation (NYSE:RRCFree Report) in the second quarter, HoldingsChannel.com reports. The firm bought 127,386 shares of the oil and gas exploration company’s stock, valued at approximately $4,737,000. Range Resources makes up 1.0% of Fielder Capital Group LLC’s portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new position in shares of Range Resources in the 4th quarter valued at $34,000. Root Financial Partners LLC lifted its stake in shares of Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares during the last quarter. Western Wealth Management LLC bought a new stake in Range Resources during the first quarter valued at about $59,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in Range Resources during the fourth quarter valued at about $57,000. Finally, Basepoint Wealth LLC purchased a new position in Range Resources in the fourth quarter valued at about $61,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.0%

RRC stock opened at $40.31 on Monday. The firm has a 50 day moving average of $37.94 and a 200 day moving average of $39.97. The stock has a market capitalization of $9.42 billion, a PE ratio of 11.14 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31.

Range Resources (NYSE:RRCGet Free Report) last released its 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 net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the previous year, the firm earned $0.66 EPS. Range Resources’s revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s payout ratio is 11.05%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their target price on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Stephens lifted their price objective on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on shares of 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. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.35.

Read Our Latest Stock Report on Range Resources

Insider Activity

In related news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. This represents a 20.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Range Resources Company 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

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:RRCFree Report).

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

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