Requisite Capital Management LLC Buys New Stake in Range Resources Corporation $RRC

Requisite Capital Management LLC purchased a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 352,407 shares of the oil and gas exploration company’s stock, valued at approximately $13,106,000. Range Resources comprises 2.2% of Requisite Capital Management LLC’s investment portfolio, making the stock its 6th largest position.

Other hedge funds also recently bought and sold shares of the company. Seelaus Asset Management LLC lifted its position in Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after purchasing an additional 250 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of Range Resources by 37.8% in 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 buying an additional 276 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 279 shares during the last quarter. Confluence Wealth Services Inc. raised its position in shares of Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 312 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its position in shares of Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 2.6%

Shares of NYSE:RRC opened at $39.29 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $37.94 and its 200 day moving average is $39.99. The stock has a market cap of $9.18 billion, a P/E ratio of 10.85 and a beta of 0.42. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31.

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. 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 analysts’ expectations of $744.78 million. During the same period in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts predict that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

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

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were 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 in the company, valued at $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Susquehanna decreased their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Morgan Stanley lowered their price objective on Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Finally, Truist Financial cut their target price on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.81.

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.