Range Resources Corporation $RRC Shares Purchased by Phocas Financial Corp.

Phocas Financial Corp. raised its stake in Range Resources Corporation (NYSE:RRC) by 28.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,929 shares of the oil and gas exploration company’s stock after purchasing an additional 60,684 shares during the period. Range Resources makes up approximately 1.6% of Phocas Financial Corp.’s holdings, making the stock its 10th biggest position. Phocas Financial Corp. owned 0.11% of Range Resources worth $11,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RRC. Huntington National Bank lifted its stake in shares of Range Resources by 4,485.3% in the second quarter. Huntington National Bank now owns 3,118 shares of the oil and gas exploration company’s stock valued at $127,000 after buying an additional 3,050 shares during the period. Sigma Planning Corp raised its holdings in Range Resources by 63.3% in the 2nd quarter. Sigma Planning Corp now owns 14,190 shares of the oil and gas exploration company’s stock valued at $577,000 after acquiring an additional 5,502 shares in the last quarter. Strs Ohio lifted its position in shares of Range Resources by 32.3% in the 2nd quarter. Strs Ohio now owns 40,128 shares of the oil and gas exploration company’s stock worth $1,632,000 after acquiring an additional 9,789 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Range Resources by 1,464.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 703 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Range Resources during the 2nd quarter worth approximately $5,720,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of Range Resources stock opened at $37.04 on Thursday. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 0.39 and a beta of 0.49. The firm’s 50-day moving average price is $36.32 and its two-hundred day moving average price is $37.00. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $748.53 million for the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.Range Resources’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. On average, equities analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio is 15.13%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RRC. Royal Bank Of Canada upped their target price on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Mizuho increased their price objective on shares of Range Resources from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. UBS Group reduced their price objective on shares of Range Resources from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Piper Sandler lowered their target price on shares of Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Finally, Citigroup cut their price target on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six 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.com, the company has an average rating of “Hold” and an average price target of $41.95.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.