125,094 Shares in Range Resources Corporation $RRC Bought by RR Advisors LLC

RR Advisors LLC acquired a new position in Range Resources Corporation (NYSE:RRCFree Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 125,094 shares of the oil and gas exploration company’s stock, valued at approximately $4,652,000. Range Resources makes up 1.3% of RR Advisors LLC’s holdings, making the stock its 22nd biggest holding. RR Advisors LLC owned 0.05% of Range Resources at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RRC. King Luther Capital Management Corp boosted its holdings in Range Resources by 49.8% in the fourth quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock valued at $45,202,000 after purchasing an additional 426,300 shares during the last quarter. Vanguard Group Inc. increased its holdings in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after purchasing an additional 701,751 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new stake in Range Resources during the 4th quarter worth approximately $21,129,000. Entropy Technologies LP increased its holdings in Range Resources by 321.3% during the 1st 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 last quarter. Finally, First Trust Advisors LP raised its position in shares of Range Resources by 126.2% in the 1st quarter. First Trust Advisors LP now owns 1,614,502 shares of the oil and gas exploration company’s stock valued at $72,943,000 after purchasing an additional 900,869 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction on 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 owned 13,421 shares in the company, valued at $536,840. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Range Resources Trading Up 0.2%

NYSE:RRC opened at $41.13 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $38.10 and its two-hundred day moving average is $40.10. Range Resources Corporation has a 52 week low of $32.68 and a 52 week high of $48.31. The company has a market cap of $9.61 billion, a PE ratio of 11.36 and a beta of 0.42.

Range Resources (NYSE:RRCGet Free Report) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. On average, analysts predict that Range Resources Corporation will post 3.59 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. 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 payout ratio is currently 11.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial reduced their target price on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Wells Fargo & Company dropped their price target 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. Barclays cut their price target on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Citigroup reissued a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. Finally, Morgan Stanley dropped their target price on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average target price of $43.75.

Get Our Latest Analysis on Range Resources

About Range Resources

(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.

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

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