Harbor Investment Advisory LLC Raises Stock Holdings in Range Resources Corporation $RRC

Harbor Investment Advisory LLC raised its holdings in Range Resources Corporation (NYSE:RRC) by 101.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,288 shares of the oil and gas exploration company’s stock after purchasing an additional 19,288 shares during the period. Harbor Investment Advisory LLC’s holdings in Range Resources were worth $1,350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners lifted its position in shares of Range Resources by 59.3% during the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after buying an additional 4,398,042 shares in the last quarter. Invesco Ltd. increased its holdings in Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after acquiring an additional 3,336,299 shares in the last quarter. AQR Capital Management LLC raised its position in Range Resources by 517.6% during the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after acquiring an additional 2,045,165 shares during the period. Holocene Advisors LP acquired a new position in Range Resources during the third quarter worth $66,560,000. Finally, UBS Group AG lifted its holdings in Range Resources by 122.0% during the third quarter. UBS Group AG now owns 2,158,063 shares of the oil and gas exploration company’s stock valued at $81,229,000 after purchasing an additional 1,185,793 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Citigroup lifted their price objective on Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Wells Fargo & Company boosted their price objective on Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Finally, Bank of America reissued a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $42.44.

Range Resources Price Performance

Shares of NYSE RRC opened at $44.60 on Friday. The firm has a 50-day simple moving average of $38.42 and a 200-day simple moving average of $37.28. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 0.41 and a beta of 0.57. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $46.19.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The firm had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. Range Resources’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. On average, equities analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 13th. Range Resources’s dividend payout ratio (DPR) is currently 14.60%.

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.