337,516 Shares in Range Resources Corporation $RRC Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 337,516 shares of the oil and gas exploration company’s stock, valued at approximately $12,552,000. Legal & General Group Plc owned approximately 0.14% of Range Resources at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RRC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Range Resources during the second quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Range Resources in the 2nd quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new stake in Range Resources during the 4th quarter worth $34,000. Root Financial Partners LLC raised its position 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 buying an additional 276 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in shares of Range Resources in the second quarter worth about $45,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Citigroup restated a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. Raymond James Financial set a $45.00 price target on Range Resources in a report on Monday, July 27th. Barclays lowered their price objective on Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Finally, Susquehanna dropped their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Stock Down 0.2%

Shares of NYSE:RRC opened at $41.39 on Tuesday. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 11.43 and a beta of 0.42. Range Resources Corporation has a 12-month low of $32.68 and a 12-month high of $48.31. The business has a 50-day moving average price of $38.65 and a 200 day moving average price of $40.32. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its 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. The company had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. Range Resources’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Sell-side analysts expect that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s payout ratio is 11.05%.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.