Manatuck Hill Partners LLC Sells 20,000 Shares of Range Resources Corporation $RRC

Manatuck Hill Partners LLC lessened its holdings in shares of Range Resources Corporation (NYSE:RRC) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,000 shares of the oil and gas exploration company’s stock after selling 20,000 shares during the quarter. Manatuck Hill Partners LLC’s holdings in Range Resources were worth $1,058,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RRC. Boston Partners boosted its position in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after purchasing an additional 4,398,042 shares during the period. AQR Capital Management LLC boosted its position in Range Resources by 517.6% during the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the period. Holocene Advisors LP bought a new position in Range Resources during the third quarter worth about $66,560,000. UBS Group AG boosted its position in Range Resources by 66.3% during the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock worth $126,532,000 after purchasing an additional 1,430,477 shares during the period. Finally, Morgan Stanley boosted its position in Range Resources by 54.1% during the fourth quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company’s stock worth $115,202,000 after purchasing an additional 1,147,304 shares during the period. Institutional investors own 98.93% of the company’s stock.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was 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 of the company’s stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Range Resources Trading Down 2.3%

Shares of RRC opened at $36.67 on Thursday. The business’s 50-day moving average price is $40.98 and its 200-day moving average price is $39.35. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The stock has a market cap of $8.64 billion, a PE ratio of 9.70 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Range Resources’s revenue was up 49.8% on a year-over-year basis. On average, equities analysts forecast that Range Resources Corporation will post 3.71 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Range Resources’s payout ratio is presently 10.58%.

Analysts Set New Price Targets

RRC has been the subject of a number of research reports. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Weiss Ratings lowered shares of Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 2nd. 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 research report on Thursday, March 12th. Morgan Stanley increased their target price on shares of Range Resources from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Finally, Truist Financial decreased 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

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.