508,430 Shares in Range Resources Corporation $RRC Purchased by Fearnley Asset Management AS

Fearnley Asset Management AS bought a new stake in shares of Range Resources Corporation (NYSE:RRC) in the 4th quarter, HoldingsChannel reports. The firm bought 508,430 shares of the oil and gas exploration company’s stock, valued at approximately $17,927,000. Range Resources accounts for about 8.2% of Fearnley Asset Management AS’s holdings, making the stock its 3rd largest position.

Several other large investors have also recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources in the fourth quarter worth about $34,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Range Resources in the 4th quarter valued at $57,000. Basepoint Wealth LLC bought a new position in Range Resources in the 4th quarter worth $61,000. International Assets Investment Management LLC bought a new position in Range Resources in the 4th quarter worth $71,000. Finally, Clearstead Advisors LLC lifted its position in 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 acquiring an additional 1,714 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Piper Sandler raised their target price on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Truist Financial decreased their price target on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. TD Cowen upped 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. Finally, Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $44.00.

Range Resources Stock Performance

NYSE RRC opened at $36.45 on Friday. 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 12-month low of $32.60 and a 12-month high of $48.31. The company has a market capitalization of $8.59 billion, a P/E ratio of 9.64 and a beta of 0.42. The firm has a 50-day moving average price of $40.69 and a two-hundred day moving average price of $39.31.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. Analysts anticipate that Range Resources Corporation will post 3.71 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.1%. Range Resources’s dividend payout ratio is currently 10.58%.

Insider Transactions at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the transaction, the director directly owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

About Range Resources

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.