Leith Wheeler Investment Counsel Ltd. Has $8.39 Million Stock Position in Range Resources Corporation $RRC

Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of Range Resources Corporation (NYSE:RRC) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,657 shares of the oil and gas exploration company’s stock after purchasing an additional 17,325 shares during the period. Leith Wheeler Investment Counsel Ltd. owned 0.08% of Range Resources worth $8,388,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Range Resources during the fourth quarter worth $34,000. Root Financial Partners LLC grew its position in shares of Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 276 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Range Resources in the 4th quarter valued at about $57,000. Basepoint Wealth LLC acquired a new position in shares of Range Resources during the 4th quarter worth about $61,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Range Resources in the 4th quarter valued at about $71,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Down 0.4%

Shares of RRC stock opened at $36.62 on Tuesday. The firm has a 50 day moving average price of $38.47 and a two-hundred day moving average price of $39.36. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $8.63 billion, a PE ratio of 9.69 and a beta of 0.41. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The business’s revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, analysts predict that Range Resources Corporation will post 3.46 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.10 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.1%. Range Resources’s payout ratio is 10.58%.

Analyst Ratings Changes

A number of research firms recently commented on RRC. Citigroup reduced their price target on Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Stephens cut their price objective on Range Resources from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 10th. Truist Financial reduced their target price on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Weiss Ratings lowered Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley dropped their price target on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.00.

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.