Susquehanna Advisors Group Inc. Makes New $1.84 Million Investment in Range Resources Corporation $RRC

Susquehanna Advisors Group Inc. acquired a new stake in Range Resources Corporation (NYSE:RRC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 49,553 shares of the oil and gas exploration company’s stock, valued at approximately $1,843,000.

A number of other institutional investors have also made changes to their positions in RRC. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Range Resources in the second quarter valued at $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Range Resources during the 2nd quarter worth $31,000. Los Angeles Capital Management LLC acquired a new position in Range Resources in the 4th quarter worth $34,000. Root Financial Partners LLC lifted its holdings in 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 worth $45,000 after buying an additional 276 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new position in Range Resources in the 2nd quarter valued at about $45,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Range Resources 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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Range Resources Trading Up 0.1%

NYSE RRC opened at $41.52 on Monday. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 11.47 and a beta of 0.42. 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 Corporation has a 12 month low of $32.68 and a 12 month high of $48.31. The company’s fifty day moving average price is $38.55 and its two-hundred day moving average price is $40.28.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, research analysts predict that Range Resources Corporation will post 3.62 earnings per share for the current fiscal year.

Range Resources Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RRC shares. UBS Group restated a “neutral” rating on shares of Range Resources in a research note on Thursday, August 13th. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Stephens increased their price target on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Truist Financial lowered 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. Finally, Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.75.

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.