WINTON GROUP Ltd Trims Stake in Range Resources Corporation $RRC

WINTON GROUP Ltd lowered its position in Range Resources Corporation (NYSE:RRC) by 72.8% during the 4th quarter, HoldingsChannel reports. The firm owned 39,804 shares of the oil and gas exploration company’s stock after selling 106,545 shares during the period. WINTON GROUP Ltd’s holdings in Range Resources were worth $1,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in Range Resources by 49.6% during 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 buying an additional 336 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in Range Resources in the 4th quarter worth about $57,000. Basepoint Wealth LLC purchased a new stake in shares of Range Resources in the 4th quarter valued at about $61,000. International Assets Investment Management LLC purchased a new stake in shares of Range Resources in the 4th quarter valued at about $71,000. Finally, Clearstead Advisors LLC boosted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 0.1%

NYSE:RRC opened at $39.12 on Tuesday. The firm has a market capitalization of $9.22 billion, a P/E ratio of 10.35 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $41.92 and a 200 day moving average of $39.37. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company’s revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. On average, research analysts predict that Range Resources Corporation will post 3.7 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is presently 10.58%.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup cut their price objective on Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. 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 report on Tuesday, March 17th. Barclays boosted their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Wells Fargo & Company increased 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 lifted their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average target price of $44.00.

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.