Dockside LLC Makes New $3.07 Million Investment in Range Resources Corporation $RRC

Dockside LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, Holdings Channel reports. The institutional investor purchased 82,652 shares of the oil and gas exploration company’s stock, valued at approximately $3,074,000.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in Range Resources during the 4th quarter worth about $34,000. Root Financial Partners LLC raised its holdings in shares of 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 valued at $45,000 after purchasing an additional 276 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Range Resources in the 1st quarter worth approximately $59,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Range Resources in the 4th quarter worth approximately $57,000. Finally, Basepoint Wealth LLC bought a new position in shares of Range Resources during the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 1.0%

Shares of Range Resources stock opened at $40.31 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.42 billion, a P/E ratio of 11.14 and a beta of 0.42. The firm’s 50 day moving average price is $37.94 and its 200-day moving average price is $39.95. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. Range Resources’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio is currently 11.05%.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director owned 13,421 shares of the company’s stock, valued at $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RRC shares. Raymond James Financial set a $45.00 price objective on shares of Range Resources in a report on Monday, July 27th. Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Morgan Stanley dropped their target price on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. The Goldman Sachs Group cut their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, Susquehanna reduced their price target on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus target price of $43.35.

Range Resources Company 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.