Connor Clark & Lunn Investment Management Ltd. Takes $6.11 Million Position in Range Resources Corporation $RRC

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Range Resources Corporation (NYSE:RRC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 164,150 shares of the oil and gas exploration company’s stock, valued at approximately $6,105,000.

Several other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Range Resources by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after purchasing an additional 326,748 shares during the last quarter. Vanguard Group Inc. raised its stake in Range Resources by 2.8% during 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 buying an additional 701,751 shares during the last quarter. BlackRock Inc. purchased a new stake in Range Resources during the 2nd quarter valued at $868,085,000. Boston Partners lifted its holdings in shares of Range Resources by 14.0% during 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 buying an additional 1,650,258 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Range Resources by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock valued at $415,354,000 after buying an additional 227,711 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. The trade was a 20.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RRC has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Morgan Stanley lowered their target price on Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. UBS Group restated a “neutral” rating on shares of Range Resources in a research note on Thursday, August 13th. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Trading Up 0.4%

NYSE:RRC opened at $41.72 on Friday. Range Resources Corporation has a one year low of $32.68 and a one year high of $48.31. The business has a fifty day moving average price of $38.45 and a 200-day moving average price of $40.24. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 11.52 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same period in the previous year, the business earned $0.66 earnings per share. Range Resources’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Corporation will post 3.62 EPS for the current year.

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.