Foster & Motley Inc. Takes Position in Range Resources Corporation $RRC

Foster & Motley Inc. bought a new position in shares of Range Resources Corporation (NYSE:RRC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,385 shares of the oil and gas exploration company’s stock, valued at approximately $758,000.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Range Resources in the 2nd quarter valued at $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources in the fourth quarter worth approximately $34,000. Root Financial Partners LLC increased its stake in 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 buying an additional 276 shares during the last quarter. Trust Co. of Vermont bought a new position in Range Resources during the second quarter valued at about $45,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Range Resources during the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings cut shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Stephens boosted their price target on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Barclays decreased their price target on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday. Raymond James Financial set a $45.00 price objective on Range Resources in a research note on Monday, July 27th. Finally, Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus target price of $43.75.

Range Resources Trading Up 1.3%

NYSE RRC opened at $40.38 on Thursday. The stock’s 50-day simple moving average is $37.99 and its two-hundred day simple moving average is $40.04. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 11.15 and a beta of 0.42.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Research analysts forecast that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s payout ratio is 11.05%.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Range Resources Company 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.