SailingStone Capital Partners LLC Has $55.95 Million Holdings in Range Resources Corporation $RRC

SailingStone Capital Partners LLC increased its stake in shares of Range Resources Corporation (NYSE:RRC) by 53.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,504,350 shares of the oil and gas exploration company’s stock after buying an additional 522,319 shares during the quarter. Range Resources comprises approximately 10.8% of SailingStone Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest position. SailingStone Capital Partners LLC owned about 0.64% of Range Resources worth $55,947,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RRC. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Range Resources during the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Range Resources during the 2nd quarter worth $31,000. Los Angeles Capital Management LLC bought a new position in shares of Range Resources in the fourth quarter worth $34,000. Ameritas Advisory Services LLC acquired a new position in Range Resources in the second quarter valued at about $44,000. Finally, Root Financial Partners LLC raised its stake in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RRC. Truist Financial cut their price objective on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research report on Monday, July 27th. Barclays upped their price target on shares of Range Resources from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.75.

Range Resources Trading Down 0.2%

RRC opened at $41.79 on Thursday. Range Resources Corporation has a fifty-two week low of $32.68 and a fifty-two week high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 11.54 and a beta of 0.43. The company’s 50 day moving average price is $39.41 and its two-hundred day moving average price is $40.55.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. As a group, research analysts predict that Range Resources Corporation will post 3.62 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

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.