Range Resources Corporation $RRC Shares Bought by SailingStone Capital Partners LLC

SailingStone Capital Partners LLC raised its holdings in Range Resources Corporation (NYSE:RRC) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,044,665 shares of the oil and gas exploration company’s stock after acquiring an additional 85,325 shares during the period. Range Resources makes up approximately 9.2% of SailingStone Capital Partners LLC’s investment portfolio, making the stock its 5th largest position. SailingStone Capital Partners LLC’s holdings in Range Resources were worth $36,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Range Resources by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after acquiring an additional 701,751 shares during the last quarter. Boston Partners raised its holdings in Range Resources by 14.0% in the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock valued at $474,585,000 after acquiring an additional 1,650,258 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Range Resources by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,965,029 shares of the oil and gas exploration company’s stock valued at $316,123,000 after acquiring an additional 673,827 shares during the last quarter. Kopernik Global Investors LLC raised its holdings in Range Resources by 18.5% in the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock valued at $184,724,000 after acquiring an additional 818,295 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Range Resources by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,337,001 shares of the oil and gas exploration company’s stock valued at $152,971,000 after acquiring an additional 41,078 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RRC shares. TD Cowen raised their price target on shares of Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, March 17th. Piper Sandler raised their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Zacks Research downgraded shares of Range Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Bank of America raised their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Finally, Stephens cut their price target on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $37.48 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31. The stock has a market capitalization of $8.83 billion, a PE ratio of 9.92 and a beta of 0.42. The firm has a 50 day moving average of $41.12 and a two-hundred day moving average of $39.36.

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, beating 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. During the same quarter last year, the company posted $0.96 EPS. The firm’s revenue was up 49.8% compared to the same quarter last year. On average, research analysts predict that Range Resources Corporation will post 3.71 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 12th. Range Resources’s payout ratio is 10.58%.

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.