80,000 Shares in Range Resources Corporation $RRC Purchased by Royce & Associates LP

Royce & Associates LP acquired a new stake in shares of Range Resources Corporation (NYSE:RRC) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 80,000 shares of the oil and gas exploration company’s stock, valued at approximately $3,011,000.

A number of other large investors also recently bought and sold shares of the company. Invesco Ltd. grew its position in shares of Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after acquiring an additional 3,336,299 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in Range Resources during the second quarter worth $36,590,000. Peconic Partners LLC acquired a new position in Range Resources in the second quarter worth $32,536,000. Vanguard Group Inc. boosted its holdings in Range Resources by 3.3% in the third quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock worth $935,425,000 after purchasing an additional 799,574 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Range Resources by 30.5% during the second quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock valued at $120,050,000 after purchasing an additional 689,212 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

NYSE RRC opened at $41.86 on Friday. The company has a 50-day moving average price of $36.65 and a two-hundred day moving average price of $36.55. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 0.38 and a beta of 0.57. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company had revenue of $786.89 million for the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. Analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s payout ratio is presently 13.14%.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of recent research reports. Bank of America restated a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Royal Bank Of Canada dropped their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 target price (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Finally, Mizuho raised their price target on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average price target of $42.06.

About Range Resources

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.