Telemark Asset Management LLC Trims Stock Holdings in Range Resources Corporation $RRC

Telemark Asset Management LLC reduced its stake in shares of Range Resources Corporation (NYSE:RRC) by 50.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 300,000 shares of the oil and gas exploration company’s stock after selling 300,000 shares during the quarter. Telemark Asset Management LLC’s holdings in Range Resources were worth $10,578,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in 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 worth $38,000 after purchasing an additional 336 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Range Resources during the 4th quarter worth about $57,000. Basepoint Wealth LLC acquired a new stake in Range Resources during the 4th quarter worth about $61,000. International Assets Investment Management LLC acquired a new stake in Range Resources during the 4th quarter worth about $71,000. Finally, Clearstead Advisors LLC grew its position in 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 worth $79,000 after purchasing an additional 1,714 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRC has been the topic of several analyst reports. Morgan Stanley increased their price target on Range Resources from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. TD Cowen increased their price target on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Barclays increased their price target on Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. Stephens cut their price target on Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Finally, Truist Financial cut their price target on Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Range Resources has an average rating of “Hold” and a consensus price target of $44.00.

Insiders Place Their Bets

In related news, Director Brenda A. Cline sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director directly owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Range Resources Price Performance

NYSE:RRC opened at $39.06 on Friday. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.20 billion, a PE ratio of 10.33 and a beta of 0.42. The stock’s 50-day moving average price is $42.08 and its 200-day moving average price is $39.36.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. During the same period last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 49.8% on a year-over-year basis. As a group, equities analysts expect that Range Resources Corporation will post 3.7 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is 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 (DPR) is currently 10.58%.

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.