Callan Family Office LLC Invests $525,000 in Range Resources Corporation $RRC

Callan Family Office LLC bought a new stake in Range Resources Corporation (NYSE:RRC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 14,104 shares of the oil and gas exploration company’s stock, valued at approximately $525,000.

A number of other large investors have also recently made changes to their positions in RRC. BlackRock Inc. purchased a new position in Range Resources during the 2nd quarter worth approximately $868,085,000. Boston Partners lifted its stake in Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after buying an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC lifted its stake in Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock valued at $91,852,000 after buying an additional 2,045,165 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Range Resources in the second quarter valued at approximately $67,470,000. Finally, UBS Group AG boosted its holdings in shares of Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock valued at $126,532,000 after acquiring an additional 1,430,477 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

NYSE:RRC opened at $40.97 on Wednesday. The firm’s fifty day moving average price is $38.25 and its 200 day moving average price is $40.17. Range Resources Corporation has a 1-year low of $32.68 and a 1-year high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 11.32 and a beta of 0.42.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping 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 the consensus estimate of $744.78 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Range Resources’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid 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 was Friday, June 12th. Range Resources’s payout ratio is 11.05%.

Insider Activity

In related news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RRC shares. UBS Group restated a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. Truist Financial reduced their price target on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Barclays lowered their price objective on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Finally, Morgan Stanley dropped their price objective on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.75.

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.