Principal Financial Group Inc. Has $23.89 Million Position in Range Resources Corporation $RRC

Principal Financial Group Inc. boosted its position in Range Resources Corporation (NYSE:RRC) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 528,726 shares of the oil and gas exploration company’s stock after buying an additional 19,054 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Range Resources worth $23,888,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Range Resources during the 4th quarter worth approximately $34,000. Root Financial Partners LLC raised its holdings in shares of Range Resources by 37.8% in 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. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Range Resources in the fourth quarter worth $57,000. Basepoint Wealth LLC bought a new stake in shares of Range Resources in the fourth quarter worth $61,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the fourth quarter worth $71,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Down 0.4%

Shares of RRC stock opened at $36.62 on Tuesday. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a market capitalization of $8.63 billion, a PE ratio of 9.69 and a beta of 0.41. The firm has a 50 day moving average price of $38.47 and a two-hundred day moving average price of $39.36. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.25 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, analysts predict that Range Resources Corporation will post 3.46 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio is currently 10.58%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RRC. Truist Financial decreased their target price on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. UBS Group reduced their price objective on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group lowered their target price on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Morgan Stanley dropped their target price on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.00.

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.