Fisher Asset Management LLC Sells 27,346 Shares of Range Resources Corporation $RRC

Fisher Asset Management LLC decreased its holdings in Range Resources Corporation (NYSE:RRC) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 749,728 shares of the oil and gas exploration company’s stock after selling 27,346 shares during the quarter. Fisher Asset Management LLC’s holdings in Range Resources were worth $26,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RRC. Empowered Funds LLC boosted its stake in shares of Range Resources by 2.1% in the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after acquiring an additional 1,563 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Range Resources by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock valued at $18,639,000 after buying an additional 8,816 shares during the last quarter. Focus Partners Wealth bought a new position in Range Resources during the first quarter valued at approximately $285,000. EverSource Wealth Advisors LLC boosted its stake in Range Resources by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 1,139 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Range Resources by 8.0% during the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after buying an additional 30,481 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RRC. Stephens dropped their price target on Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Truist Financial dropped their price target on Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Wells Fargo & Company increased their price target on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Bank of America increased their price target on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Finally, Barclays increased their price target on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director directly owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Range Resources Price Performance

NYSE:RRC opened at $40.03 on Wednesday. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 10.59 and a beta of 0.46. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31. The business has a 50 day simple moving average of $42.91 and a 200-day simple moving average of $39.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. Equities analysts forecast that Range Resources Corporation will post 3.75 EPS for the current year.

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.