S&CO Inc. Takes Position in Range Resources Corporation $RRC

S&CO Inc. purchased a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,500 shares of the oil and gas exploration company’s stock, valued at approximately $1,989,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in Range Resources in the 4th quarter worth about $34,000. Root Financial Partners LLC raised its holdings in shares of Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 276 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Range Resources during the 1st quarter valued at about $59,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Range Resources during the 4th quarter valued at about $57,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Range Resources during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RRC has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research report on Monday, July 27th. Morgan Stanley cut their price target on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Stephens boosted their price target on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and an average target price of $43.35.

Range Resources Price Performance

RRC opened at $40.31 on Friday. The stock has a 50-day moving average price of $37.94 and a 200-day moving average price of $39.95. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.42 billion, a P/E ratio of 11.14 and a beta of 0.42.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share 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 return on equity of 18.63% and a net margin of 25.04%.Range Resources’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. Equities analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is presently 11.05%.

About Range Resources

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.