McAlvany Wealth Management LLC Buys 54,378 Shares of Range Resources Corporation $RRC

McAlvany Wealth Management LLC lifted its stake in shares of Range Resources Corporation (NYSE:RRC) by 65.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 137,812 shares of the oil and gas exploration company’s stock after purchasing an additional 54,378 shares during the period. Range Resources comprises about 4.0% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. McAlvany Wealth Management LLC’s holdings in Range Resources were worth $6,368,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in Range Resources during the fourth quarter valued at approximately $34,000. Root Financial Partners LLC increased its holdings in shares of Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 276 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Range Resources during the 4th quarter valued at approximately $57,000. Basepoint Wealth LLC acquired a new stake in shares of Range Resources during the 4th quarter valued at approximately $61,000. Finally, International Assets Investment Management LLC bought a new position in Range Resources during the fourth quarter worth $71,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 1.4%

Shares of NYSE RRC opened at $36.74 on Friday. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 9.72 and a beta of 0.41. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same period in the prior year, the business earned $0.96 EPS. The firm’s revenue was up 49.8% on a year-over-year basis. Equities research analysts expect that Range Resources Corporation will post 3.46 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued 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 dividend yield of 1.1%. Range Resources’s payout ratio is 10.58%.

Analyst Ratings Changes

RRC has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Freedom Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. UBS Group reduced their price target on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Bank of America lifted their price target on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Finally, Stephens lowered their price objective on shares of Range Resources from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.00.

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.