Janus Henderson Group PLC Boosts Holdings in Range Resources Corporation $RRC

Janus Henderson Group PLC boosted its stake in Range Resources Corporation (NYSE:RRC) by 125.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 244,322 shares of the oil and gas exploration company’s stock after acquiring an additional 135,789 shares during the period. Janus Henderson Group PLC’s holdings in Range Resources were worth $11,040,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Seelaus Asset Management LLC grew its holdings in shares of Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock worth $440,000 after purchasing an additional 250 shares during the last quarter. Root Financial Partners LLC lifted 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 purchasing an additional 276 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 279 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after purchasing an additional 312 shares during the period. Finally, Harbor Investment Advisory LLC boosted its position in shares of Range Resources by 0.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $39.72 on Wednesday. The stock has a market capitalization of $9.28 billion, a PE ratio of 10.97 and a beta of 0.42. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The stock’s 50-day moving average price is $37.94 and its 200 day moving average price is $39.73. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

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, beating the consensus estimate 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 the consensus estimate of $744.78 million. During the same period in the prior year, the business earned $0.66 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio is 11.05%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial reduced their price objective on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Stephens raised their target price on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company cut their target price on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. Finally, Raymond James Financial set a $45.00 price target on shares of Range Resources in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.35.

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.