Jefferies Financial Group Inc. Invests $1.95 Million in Range Resources Corporation $RRC

Jefferies Financial Group Inc. bought a new position in Range Resources Corporation (NYSE:RRC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,500 shares of the oil and gas exploration company’s stock, valued at approximately $1,952,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Range Resources during the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Range Resources during the 2nd quarter worth approximately $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $34,000. Root Financial Partners LLC raised its holdings in shares of Range Resources by 37.8% in the first 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 during the last quarter. Finally, Trust Co. of Vermont bought a new stake in shares of Range Resources in the second quarter worth $45,000. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on RRC shares. Weiss Ratings downgraded shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Morgan Stanley cut their price target on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. Barclays reduced their price objective on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. UBS Group restated a “neutral” rating on shares of Range Resources in a report on Thursday, August 13th. Finally, Truist Financial dropped their target price on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Price Performance

Shares of NYSE RRC opened at $41.52 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 business’s 50 day moving average price is $38.55 and its two-hundred day moving average price is $40.25. The company has a market cap of $9.70 billion, a PE ratio of 11.47 and a beta of 0.42. Range Resources Corporation has a twelve month low of $32.68 and a twelve month high of $48.31.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. On average, analysts predict that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s dividend payout ratio is currently 11.05%.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

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.