Energy Income Partners LLC Boosts Stake in Range Resources Corporation $RRC

Energy Income Partners LLC grew its position in shares of Range Resources Corporation (NYSE:RRC) by 79.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 612,947 shares of the oil and gas exploration company’s stock after acquiring an additional 270,453 shares during the quarter. Energy Income Partners LLC’s holdings in Range Resources were worth $27,693,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $975,311,000 after purchasing an additional 326,748 shares in the last quarter. Vanguard Group Inc. increased its position in Range Resources by 2.8% during 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. Boston Partners raised its holdings in Range Resources by 14.0% in the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock valued at $474,585,000 after buying an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP raised its holdings in Range Resources by 2.5% in the first 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 buying an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC lifted its position in Range Resources by 18.5% during the fourth quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock valued at $184,724,000 after buying an additional 818,295 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Down 2.9%

Shares of Range Resources stock opened at $37.85 on Tuesday. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The company has a market capitalization of $8.84 billion, a PE ratio of 10.45 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $38.14 and a 200-day moving average of $39.48.

Range Resources (NYSE:RRC) last released its quarterly earnings results 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 analysts’ expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts forecast that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio is presently 11.05%.

Analysts Set New Price Targets

Several research firms have issued reports on RRC. UBS Group decreased their price objective on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Susquehanna reduced their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings cut shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Raymond James Financial set a $45.00 price target on Range Resources in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.35.

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.