King Luther Capital Management Corp Acquires 169,337 Shares of Range Resources Corporation $RRC

King Luther Capital Management Corp lifted its holdings in Range Resources Corporation (NYSE:RRC) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,370,111 shares of the oil and gas exploration company’s stock after purchasing an additional 169,337 shares during the period. King Luther Capital Management Corp owned about 0.59% of Range Resources worth $50,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new position in shares of Range Resources during the 2nd quarter worth approximately $2,220,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Range Resources by 23.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,315 shares of the oil and gas exploration company’s stock valued at $20,429,000 after acquiring an additional 104,096 shares during the period. MAC Alpha Capital Management LP grew its stake in Range Resources by 41.6% in the 2nd quarter. MAC Alpha Capital Management LP now owns 250,456 shares of the oil and gas exploration company’s stock valued at $9,315,000 after acquiring an additional 73,600 shares during the period. CX Institutional acquired a new stake in Range Resources in the 3rd quarter valued at $6,360,000. Finally, Entropy Technologies LP increased its holdings in Range Resources by 321.3% in the 1st quarter. Entropy Technologies LP now owns 52,114 shares of the oil and gas exploration company’s stock worth $2,355,000 after acquiring an additional 39,745 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE:RRC opened at $51.97 on Thursday. The company’s 50-day moving average price is $43.77 and its 200-day moving average price is $40.98. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $12.14 billion, a P/E ratio of 13.78 and a beta of 0.64. Range Resources Corporation has a twelve month low of $32.68 and a twelve month high of $56.90.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Range Resources had a net margin of 25.25% and a return on equity of 19.15%. The firm had revenue of $842.83 million for the quarter, compared to analyst estimates of $795.19 million. During the same period in the previous year, the business posted $0.57 earnings per share. Range Resources’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Range Resources Corporation will post 3.85 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a $0.10 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Range Resources’s dividend payout ratio is 10.61%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RRC shares. Raymond James Financial restated an “outperform” rating and set a $48.00 price objective on shares of Range Resources in a research report on Friday, October 23rd. Mizuho boosted their target price on shares of Range Resources from $52.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, October 26th. Truist Financial lifted their price objective on Range Resources from $43.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, November 2nd. BMO Capital Markets reiterated a “market perform” rating on shares of Range Resources in a research note on Monday, October 5th. Finally, Freedom Broker cut Range Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.22.

About Range Resources

Range Resources Corporation is an independent energy company focused on exploring for, developing and producing natural gas, natural gas liquids and crude oil. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania. The company also markets and sells its production to customers in the energy and industrial sectors. Range Resources has played a significant role in developing the Marcellus Shale, a major natural gas-producing formation in the United States.