Advisors Preferred LLC Purchases Shares of 51,183 Range Resources Corporation $RRC

Advisors Preferred LLC acquired a new stake in shares of Range Resources Corporation (NYSE:RRC) during the third quarter, Holdings Channel reports. The fund acquired 51,183 shares of the oil and gas exploration company’s stock, valued at approximately $2,034,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Range Resources by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after acquiring an additional 799,574 shares during the period. Boston Partners boosted its stake in shares of Range Resources by 6.1% during the second quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company’s stock valued at $301,133,000 after purchasing an additional 425,704 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Range Resources by 2.0% during the second quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company’s stock valued at $291,263,000 after purchasing an additional 138,877 shares during the period. Invesco Ltd. grew its holdings in shares of Range Resources by 230.1% in the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after purchasing an additional 3,336,299 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Range Resources by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,442,223 shares of the oil and gas exploration company’s stock worth $129,565,000 after buying an additional 157,387 shares during the period. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and set a $39.00 price target (down previously from $44.00) on shares of Range Resources in a research report on Monday, December 8th. TD Cowen raised shares of Range Resources to a “hold” rating in a research note on Monday, February 9th. Citigroup dropped their target price on shares of Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Piper Sandler reduced their price target on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $41.12.

Range Resources Trading Up 1.5%

Shares of RRC opened at $39.71 on Friday. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $35.69 and its 200-day moving average price is $36.19. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.36 and a beta of 0.58.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio is currently 15.13%.

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.