Vanguard Group Inc. Boosts Stake in Range Resources Corporation $RRC

Vanguard Group Inc. raised its position in Range Resources Corporation (NYSE:RRC) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,553,637 shares of the oil and gas exploration company’s stock after buying an additional 701,751 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Range Resources worth $901,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG boosted its position in Range Resources by 101.5% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 117,879 shares of the oil and gas exploration company’s stock valued at $4,156,000 after buying an additional 59,381 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 312 shares during the last quarter. Grant Street Asset Management Inc. boosted its position in Range Resources by 86.5% in the 4th quarter. Grant Street Asset Management Inc. now owns 14,462 shares of the oil and gas exploration company’s stock valued at $510,000 after buying an additional 6,707 shares during the last quarter. M&T Bank Corp boosted its position in Range Resources by 216.3% in the 4th quarter. M&T Bank Corp now owns 17,581 shares of the oil and gas exploration company’s stock valued at $620,000 after buying an additional 12,022 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Range Resources by 32.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 250,448 shares of the oil and gas exploration company’s stock valued at $9,002,000 after buying an additional 61,396 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of RRC stock opened at $42.62 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a one year low of $32.60 and a one year high of $48.31. The company’s 50-day simple moving average is $42.74 and its 200-day simple moving average is $38.71. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.78 and a beta of 0.46.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. During the same quarter last year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities analysts anticipate that Range Resources Corporation will post 3.65 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio is 10.58%.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RRC. Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Barclays upped their price objective on shares of Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Weiss Ratings raised shares of Range Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Piper Sandler upped their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Royal Bank Of Canada reduced their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.41.

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.