Telemark Asset Management LLC Decreases Stock Position in Range Resources Corporation $RRC

Telemark Asset Management LLC lessened its stake in shares of Range Resources Corporation (NYSE:RRC) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 600,000 shares of the oil and gas exploration company’s stock after selling 100,000 shares during the period. Range Resources accounts for approximately 2.1% of Telemark Asset Management LLC’s holdings, making the stock its 18th biggest position. Telemark Asset Management LLC’s holdings in Range Resources were worth $22,584,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Range Resources by 230.1% in the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after buying an additional 3,336,299 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in Range Resources in the 2nd quarter worth approximately $36,590,000. Peconic Partners LLC purchased a new stake in shares of Range Resources during the 2nd quarter worth approximately $32,536,000. Vanguard Group Inc. boosted its position in shares of Range Resources by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after acquiring an additional 799,574 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Range Resources by 30.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock valued at $120,050,000 after acquiring an additional 689,212 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Range Resources stock opened at $39.71 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $9.41 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 0.36 and a beta of 0.58. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50. The company’s 50-day moving average is $35.69 and its 200 day moving average is $36.19.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, December 12th. Range Resources’s dividend payout ratio is presently 15.13%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a research note on Monday, January 12th. Barclays upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Citigroup dropped their price target on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Bank of America restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Finally, Mizuho raised their price objective on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.12.

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.