S&CO Inc. Purchases Shares of 53,500 Range Resources Corporation $RRC

S&CO Inc. acquired a new stake in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, Holdings Channel reports. The fund acquired 53,500 shares of the oil and gas exploration company’s stock, valued at approximately $1,989,000.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Range Resources by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock valued at $975,311,000 after acquiring an additional 326,748 shares during the last quarter. Vanguard Group Inc. grew its position in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after acquiring an additional 701,751 shares during the last quarter. Boston Partners increased its stake in Range Resources by 14.0% in the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after purchasing an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP increased its stake in Range Resources by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after purchasing an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC increased its stake in Range Resources by 18.5% in the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after purchasing an additional 818,295 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stephens increased their price objective on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Truist Financial cut their target price on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Weiss Ratings downgraded shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Bank of America upped their price target 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. Finally, Freedom Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus target price of $43.35.

Insider Activity

In other news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Range Resources Stock Up 1.0%

NYSE RRC opened at $40.31 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 capitalization of $9.42 billion, a PE ratio of 11.14 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50-day moving average is $37.94 and its 200 day moving average is $39.95.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. During the same quarter in the prior year, the company posted $0.66 EPS. Range Resources’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Announces Dividend

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

Range Resources Company 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.