Energy Income Partners LLC Invests $31.93 Million in Range Resources Corporation $RRC

Energy Income Partners LLC acquired a new stake in Range Resources Corporation (NYSE:RRCFree Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 858,635 shares of the oil and gas exploration company’s stock, valued at approximately $31,933,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. King Luther Capital Management Corp increased its stake in shares of Range Resources by 49.8% during the 4th quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock worth $45,202,000 after purchasing an additional 426,300 shares during the last quarter. Vanguard Group Inc. lifted its stake in Range Resources by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after purchasing an additional 701,751 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Range Resources in the 4th quarter valued at about $21,129,000. B. Metzler seel. Sohn & Co. AG grew its holdings in Range Resources by 101.5% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 117,879 shares of the oil and gas exploration company’s stock worth $4,156,000 after purchasing an additional 59,381 shares during the period. Finally, Entropy Technologies LP grew its holdings in Range Resources by 321.3% during the first quarter. Entropy Technologies LP now owns 52,114 shares of the oil and gas exploration company’s stock worth $2,355,000 after purchasing an additional 39,745 shares during the period. 98.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director owned 13,421 shares in the company, valued at $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the topic of several research analyst reports. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Wells Fargo & Company reduced 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. Raymond James Financial set a $45.00 target price on Range Resources in a report on Monday, July 27th. Bank of America increased their price target on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Range Resources in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $43.81.

Check Out Our Latest Analysis on RRC

Range Resources Price Performance

Shares of NYSE RRC opened at $39.94 on Wednesday. The firm has a market cap of $9.33 billion, a P/E ratio of 11.03 and a beta of 0.42. The business’s 50 day moving average is $37.97 and its 200-day moving average is $40.02. 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 Corporation has a 1-year low of $32.60 and a 1-year high of $48.31.

Range Resources (NYSE:RRCGet Free Report) last posted its quarterly earnings data 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 firm had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. During the same quarter last year, the business earned $0.66 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

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.

Further Reading

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

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