Range Resources Corporation $RRC Holdings Raised by Hosking Partners LLP

Hosking Partners LLP grew its stake in Range Resources Corporation (NYSE:RRC) by 17.7% in the third quarter, HoldingsChannel reports. The fund owned 144,803 shares of the oil and gas exploration company’s stock after acquiring an additional 21,825 shares during the period. Hosking Partners LLP’s holdings in Range Resources were worth $5,364,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RRC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Range Resources during the second quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Range Resources during the second quarter valued at approximately $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Range Resources during the second quarter valued at approximately $44,000. Root Financial Partners LLC grew its stake in shares of Range Resources by 37.8% during the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new stake in shares of Range Resources in the second quarter valued at approximately $45,000. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RRC. Weiss Ratings raised shares of Range Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Scotiabank began coverage on Range Resources in a report on Wednesday, October 14th. They set a “sector perform” rating and a $42.00 price objective on the stock. UBS Group reduced their price objective on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Truist Financial decreased their price objective on Range Resources from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Finally, Barclays increased their price objective on Range Resources from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $44.06.

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction dated 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. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Range Resources Price Performance

Shares of RRC stock opened at $42.90 on Thursday. Range Resources Corporation has a 52-week low of $32.68 and a 52-week high of $48.31. The stock has a market cap of $10.02 billion, a PE ratio of 11.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50 day moving average price is $40.57 and its two-hundred day moving average price is $39.97.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 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 during the quarter, compared to analyst estimates of $744.78 million. During the same quarter in the previous year, the business earned $0.66 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, analysts forecast that Range Resources Corporation will post 3.78 EPS for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s payout ratio is 11.05%.

About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.

The company’s activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.