519,000 Shares in Range Resources Corporation $RRC Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 519,000 shares of the oil and gas exploration company’s stock, valued at approximately $19,535,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laffer Tengler Investments Inc. acquired a new stake in Range Resources during the 2nd quarter worth $370,000. Farther Finance Advisors LLC raised its holdings in shares of Range Resources by 116.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,094 shares of the oil and gas exploration company’s stock valued at $167,000 after buying an additional 2,199 shares during the period. Congress Asset Management Co. grew its holdings in shares of Range Resources by 12.1% in the third quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock valued at $20,299,000 after purchasing an additional 58,335 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Range Resources by 246.1% during the first quarter. Voya Investment Management LLC now owns 135,996 shares of the oil and gas exploration company’s stock worth $5,430,000 after acquiring an additional 96,701 shares during the period. Finally, Builder Investment Group Inc. ADV raised its holdings in Range Resources by 84.5% in the third quarter. Builder Investment Group Inc. ADV now owns 136,820 shares of the oil and gas exploration company’s stock valued at $5,150,000 after acquiring an additional 62,675 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

RRC stock opened at $35.27 on Friday. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $43.50. The stock has a 50-day moving average price of $37.08 and a two-hundred day moving average price of $36.88. The company has a market cap of $8.36 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $655.30 million for the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. As a group, research analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s payout ratio is currently 15.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RRC shares. Wells Fargo & Company upgraded Range Resources to a “strong-buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada raised their price target on Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Mizuho raised their price target on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, December 12th. UBS Group increased their target price on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Morgan Stanley decreased their price objective on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.05.

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.