Range Resources Corporation $RRC Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its stake in shares of Range Resources Corporation (NYSE:RRC) by 321.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 52,114 shares of the oil and gas exploration company’s stock after acquiring an additional 39,745 shares during the period. Entropy Technologies LP’s holdings in Range Resources were worth $2,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Brooklands Fund Management Ltd acquired a new position in shares of Range Resources during the first quarter valued at $3,400,000. Compound Planning Inc. acquired a new stake in shares of Range Resources in the 1st quarter worth about $210,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Range Resources in the 1st quarter worth about $64,481,000. Bank of Nova Scotia acquired a new stake in shares of Range Resources in the 1st quarter worth about $511,000. Finally, Gibbs Wealth Management bought a new stake in Range Resources in the 1st quarter valued at about $604,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Up 0.0%

Shares of RRC stock opened at $38.97 on Monday. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31. The stock has a market cap of $9.11 billion, a PE ratio of 10.77 and a beta of 0.41. The business’s fifty day moving average is $38.23 and its 200-day moving average is $39.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts expect that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a $0.10 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s payout ratio is 11.05%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RRC shares. Susquehanna reduced their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Wells Fargo & Company dropped their price target on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday. Zacks Research cut Range Resources from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. The Goldman Sachs Group reduced their price objective on Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Stephens boosted their price objective on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.12.

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.