Rafferty Asset Management LLC Sells 14,036 Shares of Range Resources Corporation $RRC

Rafferty Asset Management LLC reduced its holdings in shares of Range Resources Corporation (NYSE:RRC) by 9.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 129,386 shares of the oil and gas exploration company’s stock after selling 14,036 shares during the period. Rafferty Asset Management LLC’s holdings in Range Resources were worth $4,870,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 703 shares during the period. True Wealth Design LLC grew its holdings in shares of Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Range Resources by 49.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 336 shares during the period. Allworth Financial LP increased its stake in Range Resources by 196.5% in the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 731 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Range Resources by 510.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock valued at $69,000 after buying an additional 1,428 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

RRC stock opened at $41.39 on Wednesday. The firm has a 50-day simple moving average of $36.39 and a two-hundred day simple moving average of $36.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. Range Resources Corporation has a one year low of $30.32 and a one year high of $43.50. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.38 and a beta of 0.57.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. Range Resources’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, equities analysts forecast that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.10 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 13th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is presently 13.14%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RRC shares. UBS Group raised their target price on shares of Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Morgan Stanley decreased their target price on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. TD Cowen upgraded Range Resources to a “hold” rating in a research note on Monday, February 9th. Royal Bank Of Canada dropped their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Finally, Mizuho upped their price target on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average target price of $41.29.

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.