RR Advisors LLC Takes Position in Range Resources Corporation $RRC

RR Advisors LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 125,094 shares of the oil and gas exploration company’s stock, valued at approximately $4,652,000. Range Resources accounts for about 1.3% of RR Advisors LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds have also made changes to their positions in the stock. King Luther Capital Management Corp grew its stake in Range Resources by 49.8% during the 4th quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock worth $45,202,000 after buying an additional 426,300 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Range Resources by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after acquiring an additional 701,751 shares during the period. Life Cycle Investment Partners Ltd bought a new position in shares of Range Resources during the fourth quarter worth about $21,129,000. Entropy Technologies LP increased its holdings in shares of Range Resources by 321.3% in 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 acquiring an additional 39,745 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Range Resources by 126.2% during the first 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 buying an additional 900,869 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Range Resources Stock Performance

RRC opened at $41.13 on Monday. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 11.36 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. Range Resources Corporation has a 1-year low of $32.68 and a 1-year high of $48.31. The business has a 50 day moving average price of $38.10 and a two-hundred day moving average price of $40.10.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $744.78 million. During the same period last year, the company posted $0.66 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Research analysts predict that Range Resources Corporation will post 3.59 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RRC. Susquehanna decreased their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. The Goldman Sachs Group lowered their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Raymond James Financial set a $45.00 price objective on shares of Range Resources in a report on Monday, July 27th. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Stephens raised their target price on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.75.

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.