Range Resources Corporation $RRC Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of Range Resources Corporation (NYSE:RRC) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,466 shares of the oil and gas exploration company’s stock after selling 18,578 shares during the quarter. Royal Bank of Canada’s holdings in Range Resources were worth $4,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in Range Resources in the fourth quarter valued at $34,000. Root Financial Partners LLC increased its holdings in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Range Resources in the 4th quarter valued at about $57,000. Basepoint Wealth LLC acquired a new stake in Range Resources in the 4th quarter valued at about $61,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Range Resources in the 4th quarter valued at about $71,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Down 0.6%

NYSE:RRC opened at $39.95 on Friday. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31. The stock has a market cap of $9.34 billion, a P/E ratio of 11.04 and a beta of 0.42. 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 stock has a 50-day simple moving average of $37.91 and a 200-day simple moving average of $39.94.

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 the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. As a group, analysts anticipate that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s payout ratio is currently 11.05%.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the company’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 completion of the transaction, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RRC shares. Raymond James Financial set a $45.00 price objective on Range Resources in a research report on Monday, July 27th. Bank of America raised their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Wells Fargo & Company decreased their price target on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Susquehanna lowered their price target on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Finally, UBS Group reissued a “neutral” rating on shares of Range Resources in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.35.

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.