Perbak Capital Partners LLP Acquires 23,077 Shares of Range Resources Corporation $RRC

Perbak Capital Partners LLP raised its holdings in shares of Range Resources Corporation (NYSE:RRC) by 242.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,602 shares of the oil and gas exploration company’s stock after buying an additional 23,077 shares during the period. Perbak Capital Partners LLP’s holdings in Range Resources were worth $1,227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Profund Advisors LLC lifted its holdings in Range Resources by 5.5% during the third quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock valued at $204,000 after purchasing an additional 282 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Range Resources by 2.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 302 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Range Resources by 3.1% in the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after buying an additional 315 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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. Finally, Seelaus Asset Management LLC increased its stake in Range Resources by 4.0% in the 3rd quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock worth $356,000 after buying an additional 365 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Up 1.5%

Shares of NYSE RRC opened at $43.54 on Friday. Range Resources Corporation has a 1 year low of $30.32 and a 1 year high of $43.65. The firm has a 50-day simple moving average of $37.43 and a two-hundred day simple moving average of $36.92. The company has a market cap of $10.25 billion, a P/E ratio of 15.89, a PEG ratio of 0.39 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share 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 for the quarter, compared to the consensus estimate of $770.92 million. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. Research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.10 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Range Resources’s payout ratio is 13.14%.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research analyst reports. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Citigroup increased their target price on Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. UBS Group lifted their target price on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $39.00 price target (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Finally, Piper Sandler increased their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $42.13.

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.