Range Resources Corporation $RRC Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its stake in shares of Range Resources Corporation (NYSE:RRC) by 22.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 127,167 shares of the oil and gas exploration company’s stock after selling 37,649 shares during the period. Phocas Financial Corp.’s holdings in Range Resources were worth $4,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of RRC. True Wealth Design LLC grew its position in Range Resources by 116.3% in the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 541 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 49.6% during the 3rd 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 in the last quarter. Clearstead Advisors LLC raised its position in shares of Range Resources by 439.5% during the 3rd quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock worth $79,000 after buying an additional 1,714 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Range Resources by 206.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock worth $87,000 after acquiring an additional 1,550 shares during the period. Finally, Toth Financial Advisory Corp lifted its stake in shares of Range Resources by 59.5% in the 4th quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company’s stock worth $94,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RRC shares. Morgan Stanley lowered their price objective on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. TD Cowen increased their price target on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Citigroup lifted their price target on Range Resources from $43.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, March 31st. 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, Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.18.

Range Resources Stock Performance

RRC opened at $43.35 on Monday. The firm has a market cap of $10.21 billion, a PE ratio of 15.82, a P/E/G ratio of 0.34 and a beta of 0.51. 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 business has a fifty day simple moving average of $40.55 and a 200-day simple moving average of $38.03. Range Resources Corporation has a fifty-two week low of $30.32 and a fifty-two week high of $48.31.

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

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, March 13th. This is a boost from Range Resources’s previous quarterly dividend of $0.09. 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.