Moran Wealth Management LLC Boosts Holdings in Range Resources Corporation $RRC

Moran Wealth Management LLC increased its stake in shares of Range Resources Corporation (NYSE:RRC) by 41.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,665 shares of the oil and gas exploration company’s stock after acquiring an additional 22,189 shares during the period. Moran Wealth Management LLC’s holdings in Range Resources were worth $3,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RRC. Boston Partners grew its stake 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 worth $445,196,000 after purchasing an additional 4,398,042 shares during the period. AQR Capital Management LLC lifted its stake in shares of Range Resources by 517.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock valued at $91,852,000 after purchasing an additional 2,045,165 shares during the period. Holocene Advisors LP purchased a new stake in Range Resources during the third quarter worth $66,560,000. UBS Group AG boosted its holdings in Range Resources by 66.3% during the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock worth $126,532,000 after buying an additional 1,430,477 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Range Resources by 54.1% during the fourth quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company’s stock worth $115,202,000 after buying an additional 1,147,304 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Price Performance

Shares of NYSE RRC opened at $37.75 on Monday. The firm has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $39.25. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 9.99 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business’s revenue was up 49.8% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. On average, equities analysts predict that Range Resources Corporation will post 3.6 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 12th. Range Resources’s payout ratio is 10.58%.

Insider Buying and Selling

In related news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Freedom Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Stephens set a $53.00 target price on Range Resources in a research report on Tuesday, June 23rd. Morgan Stanley dropped their target price on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Truist Financial cut their price target on Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Finally, TD Cowen upped their price target on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $43.33.

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.