Jefferies Financial Group Inc. Sells 132,905 Shares of Range Resources Corporation $RRC

Jefferies Financial Group Inc. reduced its position in Range Resources Corporation (NYSE:RRC) by 12.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 976,626 shares of the oil and gas exploration company’s stock after selling 132,905 shares during the quarter. Jefferies Financial Group Inc. owned 0.41% of Range Resources worth $36,760,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of Range Resources by 116.3% during the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 541 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 336 shares during the period. Allworth Financial LP lifted its stake in shares of Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 731 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Range Resources by 510.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock worth $69,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings 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 valued at $79,000 after acquiring an additional 1,714 shares during the period. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.6%

Shares of NYSE:RRC opened at $41.57 on Monday. The business’s 50 day moving average is $36.77 and its 200 day moving average is $36.66. The stock has a market cap of $9.78 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.38 and a beta of 0.57. Range Resources Corporation has a 52-week low of $30.32 and a 52-week high of $43.50. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. During the same period in the previous year, the company posted $0.68 EPS. Range Resources’s revenue was up 30.9% on a year-over-year basis. Sell-side analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.10 dividend. The ex-dividend date is Friday, March 13th. This is an increase from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio is presently 13.14%.

Wall Street Analyst Weigh In

Several brokerages have commented on RRC. Citigroup upped their price objective on Range Resources from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Bank of America reissued a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Wells Fargo & Company upped their price target 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. Finally, Piper Sandler raised their price target on shares of Range Resources from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.06.

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.