Range Resources Corporation $RRC Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Range Resources Corporation (NYSE:RRC) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,337,001 shares of the oil and gas exploration company’s stock after acquiring an additional 41,078 shares during the quarter. Geode Capital Management LLC’s holdings in Range Resources were worth $152,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 336 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Range Resources during the 4th quarter valued at approximately $71,000. Clearstead Advisors LLC raised its position in shares of Range Resources by 439.5% during the 3rd quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after acquiring an additional 1,714 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Range Resources by 206.4% during the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock valued at $87,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its holdings in shares of Range Resources by 59.5% during the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company’s stock worth $94,000 after purchasing an additional 1,000 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Citigroup dropped their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Truist Financial dropped their target price on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Stephens dropped their target price on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Piper Sandler increased their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Range Resources Stock Up 1.8%

Shares of NYSE:RRC opened at $40.54 on Friday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 10.72 and a beta of 0.42. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The company’s fifty day moving average is $42.23 and its two-hundred day moving average is $39.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm’s revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. Equities analysts anticipate that Range Resources Corporation will post 3.7 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio is currently 10.58%.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Range Resources 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.