Royce & Associates LP Purchases 16,600 Shares of Range Resources Corporation $RRC

Royce & Associates LP grew its position in Range Resources Corporation (NYSE:RRC) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,600 shares of the oil and gas exploration company’s stock after acquiring an additional 16,600 shares during the period. Royce & Associates LP’s holdings in Range Resources were worth $3,406,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RRC. Smartleaf Asset Management LLC raised its stake 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 valued at $38,000 after acquiring an additional 336 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Range Resources in the fourth quarter valued at approximately $71,000. Clearstead Advisors LLC raised its stake in shares of Range Resources by 439.5% in the third 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 last quarter. Hantz Financial Services Inc. raised its stake in shares of Range Resources by 206.4% in the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock valued at $87,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in shares of Range Resources by 59.5% in the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company’s stock valued at $94,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

RRC stock opened at $38.94 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The company has a 50 day moving average price of $42.65 and a 200 day moving average price of $39.31. Range Resources Corporation has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The stock has a market capitalization of $9.17 billion, a PE ratio of 10.30 and a beta of 0.46.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued 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 of this dividend is Friday, June 12th. Range Resources’s payout ratio is currently 10.58%.

Insider Buying and Selling

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RRC. Zacks Research upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Stephens cut their target price on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. TD Cowen lifted their target price on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Piper Sandler boosted their price objective 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. Finally, Morgan Stanley boosted their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus 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.