244,627 Shares in Range Resources Corporation $RRC Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, HoldingsChannel.com reports. The firm purchased 244,627 shares of the oil and gas exploration company’s stock, valued at approximately $9,096,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RRC. Price T Rowe Associates Inc. MD lifted its holdings in Range Resources by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after buying an additional 326,748 shares during the period. Vanguard Group Inc. raised its holdings in Range Resources by 2.8% in 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 in the last quarter. BlackRock Inc. purchased a new stake in shares of Range Resources in the 2nd quarter worth about $868,085,000. Boston Partners lifted its position in shares of Range Resources by 14.0% in the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after purchasing an additional 1,650,258 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Range Resources by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock valued at $415,354,000 after purchasing an additional 227,711 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 0.1%

Shares of Range Resources stock opened at $41.52 on Monday. Range Resources Corporation has a 1 year low of $32.68 and a 1 year high of $48.31. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 11.47 and a beta of 0.42. The company has a 50-day moving average of $38.55 and a 200 day moving average of $40.28. 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 (NYSE:RRC) last posted its quarterly earnings data 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 business had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. Range Resources’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Range Resources Corporation will post 3.62 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s payout ratio is currently 11.05%.

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at $536,840. This represents a 20.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research analyst reports. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Wells Fargo & Company cut their price objective on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. The Goldman Sachs Group reduced their target price on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Barclays decreased their target price on Range Resources from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Finally, Citigroup restated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Range Resources has a consensus rating of “Hold” and an average target price of $43.75.

Range Resources Profile

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.