858,635 Shares in Range Resources Corporation $RRC Acquired by Energy Income Partners LLC

Energy Income Partners LLC acquired a new stake in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 858,635 shares of the oil and gas exploration company’s stock, valued at approximately $31,933,000. Energy Income Partners LLC owned 0.37% of Range Resources at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in Range Resources by 2.1% in the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock valued at $3,029,000 after purchasing an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Range Resources by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock valued at $18,639,000 after acquiring an additional 8,816 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Range Resources in the 1st quarter valued at approximately $285,000. EverSource Wealth Advisors LLC boosted its stake in Range Resources by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after acquiring an additional 1,139 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Range Resources by 8.0% during the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after purchasing an additional 30,481 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. Raymond James Financial set a $45.00 target price on Range Resources in a report on Monday, July 27th. Truist Financial lowered their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group dropped their price target 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, Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus price target of $43.81.

Range Resources Stock Performance

RRC opened at $39.94 on Wednesday. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 11.03 and a beta of 0.42. The business’s 50-day moving average price is $37.97 and its two-hundred day moving average price is $40.02. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $744.78 million. During the same period last year, the company earned $0.66 earnings per share. Range Resources’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts expect that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared 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. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.