Mizuho Markets Cayman LP Takes Position in Range Resources Corporation $RRC

Mizuho Markets Cayman LP purchased a new stake in Range Resources Corporation (NYSE:RRC) in the 3rd quarter, HoldingsChannel reports. The firm purchased 149,117 shares of the oil and gas exploration company’s stock, valued at approximately $5,613,000.

A number of other large investors also recently bought and sold shares of RRC. Profund Advisors LLC boosted its position in Range Resources by 5.5% during the third quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 282 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 302 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Range Resources by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after buying an additional 315 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 336 shares during the period. Finally, Seelaus Asset Management LLC lifted its position in shares of Range Resources by 4.0% during the 3rd quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock valued at $356,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Range Resources stock opened at $43.39 on Wednesday. The company has a fifty day simple moving average of $37.79 and a 200-day simple moving average of $37.09. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 0.40 and a beta of 0.57. 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 Corporation has a 52-week low of $30.32 and a 52-week high of $44.56.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. On average, equities analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.10 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Range Resources’s dividend payout ratio is 14.60%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RRC. Royal Bank Of Canada dropped their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. restated an “underweight” rating and set a $39.00 price target (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Weiss Ratings raised shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Zacks Research cut Range Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Finally, Morgan Stanley cut their price objective on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.44.

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.