SG Americas Securities LLC Boosts Position in Range Resources Corporation $RRC

SG Americas Securities LLC grew its holdings in shares of Range Resources Corporation (NYSE:RRC) by 101.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,689 shares of the oil and gas exploration company’s stock after buying an additional 33,544 shares during the quarter. SG Americas Securities LLC’s holdings in Range Resources were worth $2,351,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Range Resources by 3.3% in 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 raised its position in Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after purchasing an additional 4,398,042 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Range Resources by 7.9% during the third quarter. Dimensional Fund Advisors LP now owns 8,291,202 shares of the oil and gas exploration company’s stock worth $312,075,000 after purchasing an additional 608,274 shares in the last quarter. Invesco Ltd. boosted its position 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 buying an additional 3,336,299 shares during the period. Finally, JPMorgan Chase & Co. grew 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 valued at $129,565,000 after buying an additional 157,387 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

RRC has been the subject of a number of analyst reports. Mizuho upped their price target on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings raised shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $39.00 price objective (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Piper Sandler lifted their target price on Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Bank of America reiterated a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.18.

Range Resources Price Performance

RRC opened at $43.35 on Friday. The company has a market capitalization of $10.21 billion, a P/E ratio of 15.82, a PEG ratio of 0.34 and a beta of 0.51. The company has a 50-day moving average of $40.55 and a 200-day moving average of $38.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $48.31.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Equities analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.10 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is presently 14.60%.

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.