Life Cycle Investment Partners Ltd Makes New $21.13 Million Investment in Range Resources Corporation $RRC

Life Cycle Investment Partners Ltd bought a new position in Range Resources Corporation (NYSE:RRC) in the 4th quarter, HoldingsChannel.com reports. The fund bought 599,248 shares of the oil and gas exploration company’s stock, valued at approximately $21,129,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MQS Management LLC purchased a new stake in Range Resources in the fourth quarter worth approximately $275,000. Mizuho Markets Cayman LP boosted its stake in Range Resources by 125.6% in the fourth quarter. Mizuho Markets Cayman LP now owns 336,363 shares of the oil and gas exploration company’s stock worth $11,860,000 after buying an additional 187,246 shares in the last quarter. Private Wealth Advisors LLC boosted its stake in Range Resources by 4.8% in the fourth quarter. Private Wealth Advisors LLC now owns 44,635 shares of the oil and gas exploration company’s stock worth $1,574,000 after buying an additional 2,050 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Range Resources by 7.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 35,861 shares of the oil and gas exploration company’s stock worth $1,264,000 after buying an additional 2,459 shares in the last quarter. Finally, Radnor Capital Management LLC boosted its stake in Range Resources by 2.9% in the fourth quarter. Radnor Capital Management LLC now owns 35,860 shares of the oil and gas exploration company’s stock worth $1,264,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $41.07 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The stock has a 50 day moving average price of $43.01 and a two-hundred day moving average price of $39.22. The company has a market capitalization of $9.68 billion, a P/E ratio of 10.87 and a beta of 0.46.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue was up 49.8% on a year-over-year basis. Analysts expect that Range Resources Corporation will post 3.75 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.10 dividend. The ex-dividend date was Friday, March 13th. This is an increase from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio is presently 10.58%.

Wall Street Analyst Weigh In

Several analysts have issued reports on RRC shares. Wells Fargo & Company upped their target price on Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Zacks Research raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Citigroup cut their target price on Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. TD Cowen boosted their price objective on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, March 17th. Finally, Morgan Stanley boosted their price objective on Range Resources from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average price target of $44.00.

Insiders Place Their Bets

In related news, Director Brenda A. Cline sold 7,000 shares of the company’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 transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.