Phocas Financial Corp. Sells 37,649 Shares of Range Resources Corporation $RRC

Phocas Financial Corp. trimmed its holdings in Range Resources Corporation (NYSE:RRC) by 22.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,167 shares of the oil and gas exploration company’s stock after selling 37,649 shares during the quarter. Phocas Financial Corp.’s holdings in Range Resources were worth $4,484,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 541 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares during the period. Clearstead Advisors LLC increased its position in Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock worth $79,000 after purchasing an additional 1,714 shares during the period. Hantz Financial Services Inc. increased its position in Range Resources by 206.4% in the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock worth $87,000 after purchasing an additional 1,550 shares during the period. Finally, Toth Financial Advisory Corp increased its position in Range Resources by 59.5% in the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company’s stock worth $94,000 after purchasing an additional 1,000 shares during the period. 98.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Royal Bank Of Canada lowered their price objective on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Morgan Stanley lowered their price objective on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. TD Cowen boosted their target price on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Finally, Freedom Capital upgraded Range Resources to a “hold” rating in a research report on Thursday, April 2nd. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.76.

Range Resources Price Performance

Shares of RRC opened at $40.69 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day simple moving average of $41.42 and a 200 day simple moving average of $38.37. Range Resources Corporation has a 52-week low of $32.08 and a 52-week high of $48.31. The firm has a market capitalization of $9.58 billion, a PE ratio of 14.85, a P/E/G ratio of 0.34 and a beta of 0.51.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. During the same period in the previous year, the firm earned $0.68 EPS. Range Resources’s quarterly revenue was up 30.9% compared to the same quarter last year. Sell-side analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a $0.10 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. This is a boost from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s payout ratio is presently 14.60%.

Insider Activity

In related news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.