UBS Group AG Buys 1,430,477 Shares of Range Resources Corporation $RRC

UBS Group AG increased its stake in Range Resources Corporation (NYSE:RRC) by 66.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,588,540 shares of the oil and gas exploration company’s stock after purchasing an additional 1,430,477 shares during the period. UBS Group AG’s holdings in Range Resources were worth $126,532,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its position in shares of Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock worth $79,000 after purchasing an additional 1,714 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Range Resources by 206.4% in the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock worth $87,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its position in shares of Range Resources by 59.5% in the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company’s stock worth $94,000 after purchasing an additional 1,000 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Down 2.0%

Shares of RRC opened at $42.62 on Friday. The firm has a market cap of $10.04 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.80 and a beta of 0.51. The stock has a 50 day simple moving average of $42.74 and a two-hundred day simple moving average of $38.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31.

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

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.10 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 13th. Range Resources’s payout ratio is currently 10.58%.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RRC. TD Cowen upped their price objective on shares of Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Truist Financial decreased their price objective on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Royal Bank Of Canada decreased their price objective 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. Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Zacks Research raised Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.