Cox Capital Mgt LLC Has $1.55 Million Holdings in Range Resources Corporation $RRC

Cox Capital Mgt LLC lifted its position in Range Resources Corporation (NYSE:RRC) by 56.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,819 shares of the oil and gas exploration company’s stock after acquiring an additional 16,532 shares during the quarter. Range Resources makes up about 1.0% of Cox Capital Mgt LLC’s holdings, making the stock its 29th biggest holding. Cox Capital Mgt LLC’s holdings in Range Resources were worth $1,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Profund Advisors LLC raised its stake in Range Resources by 5.5% during the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock valued at $204,000 after purchasing an additional 282 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 336 shares during the period. Seelaus Asset Management LLC grew its holdings in shares of Range Resources by 4.0% during the third quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock valued at $356,000 after buying an additional 365 shares in the last quarter. Finally, AMG National Trust Bank raised its position in Range Resources by 0.9% during the third quarter. AMG National Trust Bank now owns 41,986 shares of the oil and gas exploration company’s stock valued at $1,580,000 after buying an additional 386 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RRC shares. UBS Group increased their price objective on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Truist Financial initiated coverage on Range Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $48.00 target price on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $39.00 price target (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Wells Fargo & Company raised 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, Barclays boosted their price objective on shares of Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.76.

Range Resources Stock Performance

Shares of NYSE RRC opened at $47.62 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. Range Resources Corporation has a one year low of $30.32 and a one year high of $48.31. The business’s 50-day moving average price is $39.68 and its two-hundred day moving average price is $37.70. The company has a market capitalization of $11.21 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.44 and a beta of 0.57.

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 company had revenue of $786.89 million during the quarter, compared to the consensus estimate of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. This is a boost from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. Range Resources’s dividend payout ratio is presently 14.60%.

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.