Deutsche Bank AG Takes $3.68 Million Position in Range Resources Corporation $RRC

Deutsche Bank AG purchased a new position in shares of Range Resources Corporation (NYSE:RRC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 99,043 shares of the oil and gas exploration company’s stock, valued at approximately $3,683,000.

Several other institutional investors and hedge funds have also made changes to their positions in RRC. Seelaus Asset Management LLC increased its holdings in Range Resources by 2.6% during the 1st quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after acquiring an additional 250 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Range Resources by 37.8% in the first 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 in the last quarter. UMB Bank n.a. lifted its holdings in shares of Range Resources by 13.0% in the fourth 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 in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Range Resources by 0.9% in the first 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 in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Range Resources by 4.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,165 shares of the oil and gas exploration company’s stock valued at $369,000 after purchasing an additional 332 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on 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 owned 13,421 shares of the company’s stock, valued at $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Raymond James Financial set a $45.00 target price on Range Resources in a report on Monday, July 27th. Stephens raised their price target on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Truist Financial cut their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. Finally, Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.75.

Range Resources Stock Performance

Shares of NYSE RRC opened at $40.97 on Wednesday. The company has a 50-day simple moving average of $38.25 and a 200-day simple moving average of $40.17. 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 company has a market cap of $9.57 billion, a PE ratio of 11.32 and a beta of 0.42. Range Resources Corporation has a 12 month low of $32.68 and a 12 month high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Range Resources Corporation will post 3.62 earnings per share for the current year.

Range Resources Dividend Announcement

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

Range Resources Company 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.