Diversify Advisory Services LLC purchased a new position in Range Resources Corporation (NYSE:RRC – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 49,625 shares of the oil and gas exploration company’s stock, valued at approximately $1,880,000.
Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Range Resources during the second quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new stake in Range Resources in the fourth quarter valued at approximately $34,000. Root Financial Partners LLC boosted its position in 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 valued at $45,000 after buying an additional 276 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Range Resources during the second quarter worth about $45,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Range Resources in the 4th quarter worth approximately $57,000. Institutional investors own 98.93% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on RRC. Raymond James Financial set a $45.00 price target on shares of Range Resources in a research report on Monday, July 27th. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Barclays lowered their price target on Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday. The Goldman Sachs Group cut their target price on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Morgan Stanley lowered their price objective on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.75.
Range Resources Price Performance
NYSE:RRC opened at $40.38 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $37.99 and a 200-day simple moving average of $40.04. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 11.15 and a beta of 0.42. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31.
Range Resources (NYSE:RRC – Get Free Report) last issued 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 firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts forecast that Range Resources Corporation will post 3.49 EPS for the current year.
Range Resources Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend 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 presently 11.05%.
Insider Activity at Range Resources
In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.
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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