denkapparat Operations GmbH Purchases 26,646 Shares of Range Resources Corporation $RRC

denkapparat Operations GmbH raised its position in Range Resources Corporation (NYSE:RRC) by 483.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,156 shares of the oil and gas exploration company’s stock after acquiring an additional 26,646 shares during the quarter. denkapparat Operations GmbH’s holdings in Range Resources were worth $1,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in Range Resources by 2.1% during the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after purchasing an additional 1,563 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Range Resources by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after buying an additional 8,816 shares during the last quarter. Focus Partners Wealth bought a new stake in Range Resources in the first quarter valued at approximately $285,000. EverSource Wealth Advisors LLC raised its stake in Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 1,139 shares during the period. Finally, California Public Employees Retirement System raised its stake in Range Resources by 8.0% in the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after buying an additional 30,481 shares during the period. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

RRC has been the subject of several research analyst reports. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Truist Financial dropped their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Stephens raised their price target on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Barclays reduced their price objective on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Finally, UBS Group reiterated a “neutral” rating on shares of Range Resources in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.75.

Insider Activity

In other news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were 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 of the company’s stock, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Range Resources Price Performance

Range Resources stock opened at $42.40 on Friday. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 11.71 and a beta of 0.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12 month low of $32.68 and a 12 month high of $48.31. The stock’s 50 day moving average is $39.01 and its 200-day moving average is $40.44.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) 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 business had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same period in the previous year, the company posted $0.66 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts expect that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

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.