Hsbc Holdings PLC Buys Shares of 35,339 Range Resources Corporation $RRC

Hsbc Holdings PLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, Holdings Channel.com reports. The fund purchased 35,339 shares of the oil and gas exploration company’s stock, valued at approximately $1,319,000.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Range Resources by 1.2% in the 4th 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 acquiring an additional 326,748 shares during the last quarter. BlackRock Inc. bought a new position in Range Resources during the second quarter worth about $868,085,000. Boston Partners boosted its position in Range Resources by 14.0% during the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after purchasing an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP boosted its position in Range Resources by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after purchasing an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC increased its stake in shares of Range Resources by 18.5% in the fourth quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after purchasing an additional 818,295 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

RRC has been the topic of several research reports. Barclays lowered 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 research report on Monday, August 17th. UBS Group reaffirmed a “neutral” rating on shares of Range Resources in a report on Thursday, August 13th. Susquehanna reduced their price objective on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Stephens increased their target price on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average target price of $43.75.

Range Resources Stock Down 0.2%

RRC stock opened at $41.39 on Tuesday. The stock has a 50-day simple moving average of $38.65 and a two-hundred day simple moving average of $40.32. Range Resources Corporation has a twelve month low of $32.68 and a twelve month high of $48.31. The firm has a market capitalization of $9.67 billion, a PE ratio of 11.43 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts predict that Range Resources Corporation will post 3.62 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s dividend payout ratio is 11.05%.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director directly owned 13,421 shares in the company, valued at $536,840. This represents a 20.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.