Qube Research & Technologies Ltd Has $120.05 Million Holdings in Range Resources Corporation $RRC

Qube Research & Technologies Ltd increased its holdings in Range Resources Corporation (NYSE:RRC) by 30.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,951,806 shares of the oil and gas exploration company’s stock after purchasing an additional 689,212 shares during the quarter. Qube Research & Technologies Ltd owned approximately 1.24% of Range Resources worth $120,050,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hantz Financial Services Inc. grew its position in shares of Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 703 shares during the last quarter. Barrett & Company Inc. acquired a new position in shares of Range Resources in the second quarter worth approximately $41,000. Allworth Financial LP lifted its stake in shares of Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 731 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Range Resources in the second quarter valued at approximately $45,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Range Resources during the 2nd quarter valued at approximately $47,000. 98.93% of the stock is owned by institutional investors.

Range Resources Price Performance

Shares of NYSE RRC opened at $37.26 on Thursday. The firm has a market capitalization of $8.83 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.29 and a beta of 0.47. The firm’s 50-day moving average price is $37.74 and its 200-day moving average price is $37.27. The company has a current ratio of 0.56, a quick ratio of 0.56 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 issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The business had revenue of $655.30 million during the quarter, compared to analyst estimates of $721.22 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, December 12th. Range Resources’s dividend payout ratio is presently 15.13%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of analyst reports. Roth Capital lowered shares of Range Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $35.00 in a research note on Monday, August 18th. Susquehanna dropped their target price on shares of Range Resources to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Mizuho increased their price target on Range Resources from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Piper Sandler lowered their price objective on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Finally, Raymond James Financial cut their target price on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.60.

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.