Royce & Associates LP Has $3.41 Million Stock Holdings in Range Resources Corporation $RRC

Royce & Associates LP boosted its holdings in shares of Range Resources Corporation (NYSE:RRC) by 20.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 96,600 shares of the oil and gas exploration company’s stock after acquiring an additional 16,600 shares during the period. Royce & Associates LP’s holdings in Range Resources were worth $3,406,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its holdings in shares of Range Resources by 753.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock valued at $3,394,000 after buying an additional 79,613 shares during the period. Vanguard Group Inc. grew its holdings in shares of Range Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after buying an additional 799,574 shares during the period. Citigroup Inc. grew its holdings in shares of Range Resources by 71.0% in the 3rd quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock valued at $11,578,000 after buying an additional 127,753 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Range Resources by 48.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock valued at $5,086,000 after buying an additional 44,004 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Range Resources by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 754,293 shares of the oil and gas exploration company’s stock valued at $28,392,000 after buying an additional 49,979 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $38.94 on Friday. The firm has a market cap of $9.17 billion, a PE ratio of 10.30 and a beta of 0.46. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The company has a fifty day moving average price of $42.65 and a 200 day moving average price of $39.31.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. Research analysts predict that Range Resources Corporation will post 3.71 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio is presently 10.58%.

Insiders Place Their Bets

In related news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction on 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. This represents a 19.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RRC shares. Morgan Stanley boosted their price target on shares of Range Resources from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. Piper Sandler boosted their price target on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Citigroup decreased their price target on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. TD Cowen boosted their price target on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Finally, Truist Financial decreased their price target on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.00.

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.