SailingStone Capital Partners LLC Has $55.95 Million Position in Range Resources Corporation $RRC

SailingStone Capital Partners LLC grew its position in Range Resources Corporation (NYSE:RRC) by 53.2% during the second quarter, HoldingsChannel reports. The firm owned 1,504,350 shares of the oil and gas exploration company’s stock after buying an additional 522,319 shares during the period. Range Resources comprises approximately 10.8% of SailingStone Capital Partners LLC’s portfolio, making the stock its 2nd largest holding. SailingStone Capital Partners LLC’s holdings in Range Resources were worth $55,947,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Engineers Gate Manager LP boosted its position in Range Resources by 1,413.1% during the second quarter. Engineers Gate Manager LP now owns 197,380 shares of the oil and gas exploration company’s stock valued at $7,341,000 after acquiring an additional 184,335 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Range Resources during the 2nd quarter worth about $57,000. NewEdge Advisors LLC raised its position in shares of Range Resources by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,494 shares of the oil and gas exploration company’s stock worth $130,000 after acquiring an additional 291 shares in the last quarter. Allworth Financial LP raised its position in shares of Range Resources by 108.6% in the 2nd quarter. Allworth Financial LP now owns 6,084 shares of the oil and gas exploration company’s stock worth $226,000 after acquiring an additional 3,168 shares in the last quarter. Finally, Empirical Finance LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at about $550,000. Institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RRC shares. Raymond James Financial set a $45.00 target price on Range Resources in a research report on Monday, July 27th. Weiss Ratings downgraded Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Stephens boosted their price target on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group cut their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, Barclays raised their price objective on shares of Range Resources from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Stock Down 0.2%

Shares of NYSE:RRC opened at $41.79 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. Range Resources Corporation has a 52-week low of $32.68 and a 52-week high of $48.31. The business’s 50 day simple moving average is $39.41 and its two-hundred day simple moving average is $40.55. The firm has a market cap of $9.77 billion, a P/E ratio of 11.54 and a beta of 0.43.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $744.78 million. During the same period in the prior year, the firm earned $0.66 earnings per share. Range Resources’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts forecast that Range Resources Corporation will post 3.62 EPS for the current fiscal year.

Range Resources Announces Dividend

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

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.