Parkside Financial Bank & Trust Has $69,000 Holdings in Range Resources Corporation $RRC

Parkside Financial Bank & Trust grew its position in shares of Range Resources Corporation (NYSE:RRC) by 510.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,708 shares of the oil and gas exploration company’s stock after buying an additional 1,428 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Range Resources were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. King Luther Capital Management Corp lifted its stake in Range Resources by 2,522.3% in the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company’s stock valued at $32,888,000 after acquiring an additional 792,240 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Range Resources by 3,222.9% during the 1st quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company’s stock valued at $21,528,000 after purchasing an additional 522,910 shares in the last quarter. Nuveen LLC bought a new position in shares of Range Resources during the 1st quarter valued at $19,396,000. Wellington Management Group LLP boosted its holdings in Range Resources by 50.1% in the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock worth $56,103,000 after purchasing an additional 468,841 shares in the last quarter. Finally, Beck Bode LLC bought a new stake in Range Resources in the first quarter worth $15,651,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RRC shares. Citigroup cut their target price on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Morgan Stanley cut their price objective on Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings cut Range Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Mizuho increased their price target on Range Resources from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Piper Sandler reduced their price objective on shares of Range Resources from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.95.

Range Resources Stock Up 3.1%

RRC opened at $38.87 on Wednesday. The business has a 50 day moving average of $36.58 and a 200-day moving average of $37.13. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 0.39 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The business had revenue of $748.53 million for the quarter, compared to analyst estimates of $721.22 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Range Resources’s revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is presently 15.13%.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.