Ceredex Value Advisors LLC Has $18.01 Million Position in Range Resources Corporation $RRC

Ceredex Value Advisors LLC lifted its holdings in Range Resources Corporation (NYSE:RRC) by 22.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 478,550 shares of the oil and gas exploration company’s stock after purchasing an additional 87,050 shares during the period. Ceredex Value Advisors LLC’s holdings in Range Resources were worth $18,013,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. True Wealth Design LLC boosted its stake in Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 541 shares during the period. Smartleaf Asset Management LLC increased its position 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 lifted its holdings in shares of Range Resources by 196.5% during the second 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 last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Range Resources by 510.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock worth $69,000 after buying an additional 1,428 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after acquiring an additional 1,714 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RRC. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. TD Cowen upgraded shares of Range Resources to a “hold” rating in a research report on Monday, February 9th. Citigroup boosted their price objective on shares of Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company upped their price objective on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.06.

Range Resources Stock Performance

RRC opened at $41.63 on Tuesday. The stock’s 50 day simple moving average is $36.89 and its 200-day simple moving average is $36.72. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market cap of $9.80 billion, a PE ratio of 15.19, a P/E/G ratio of 0.38 and a beta of 0.57. Range Resources Corporation has a 1 year low of $30.32 and a 1 year high of $43.50.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same period last year, the business earned $0.68 earnings per share. Range Resources’s quarterly revenue was up 30.9% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

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

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.