Assenagon Asset Management S.A. Has $3.57 Million Stake in Range Resources Corporation $RRC

Assenagon Asset Management S.A. lowered its position in Range Resources Corporation (NYSE:RRC) by 92.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,028 shares of the oil and gas exploration company’s stock after selling 993,565 shares during the period. Assenagon Asset Management S.A.’s holdings in Range Resources were worth $3,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Miller Howard Investments Inc. NY boosted its holdings in shares of Range Resources by 3.8% in the 1st quarter. Miller Howard Investments Inc. NY now owns 27,132 shares of the oil and gas exploration company’s stock worth $1,226,000 after acquiring an additional 993 shares in the last quarter. Keudell Morrison Wealth Management acquired a new stake in Range Resources during the 1st quarter valued at $321,000. EdgeRock Capital LLC acquired a new stake in Range Resources during the 1st quarter valued at $271,000. Orser Capital Management LLC raised its position in Range Resources by 3.6% in the 1st quarter. Orser Capital Management LLC now owns 47,777 shares of the oil and gas exploration company’s stock valued at $2,159,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Diversified Trust Co bought a new position in Range Resources in the 1st quarter valued at $523,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Down 3.3%

RRC stock opened at $36.34 on Tuesday. The company has a market cap of $8.56 billion, a P/E ratio of 9.61 and a beta of 0.42. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $40.05 and a 200-day moving average of $39.22.

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 (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. As a group, equities research analysts expect that Range Resources Corporation will post 3.71 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Range Resources’s dividend payout ratio is presently 10.58%.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RRC. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. 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 report on Thursday, April 9th. Zacks Research cut Range Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Stephens set a $53.00 price target on shares of Range Resources in a research report on Tuesday, June 23rd. Finally, Barclays increased their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. One 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, the company has an average rating of “Hold” and an average price target of $43.59.

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.