Arrowstreet Capital Limited Partnership Takes Position in Range Resources Corporation $RRC

Arrowstreet Capital Limited Partnership bought a new position in Range Resources Corporation (NYSE:RRC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,427,203 shares of the oil and gas exploration company’s stock, valued at approximately $64,481,000.

A number of other institutional investors and hedge funds have also modified their holdings of RRC. Seelaus Asset Management LLC grew its stake in Range Resources by 2.6% during the 1st quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after acquiring an additional 250 shares in the last quarter. Root Financial Partners LLC increased its stake in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 276 shares during the period. UMB Bank n.a. increased its stake in Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after buying an additional 279 shares during the period. Confluence Wealth Services Inc. lifted its position in Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock worth $360,000 after buying an additional 312 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in Range Resources by 0.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock worth $1,745,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RRC shares. UBS Group decreased their target price on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Morgan Stanley cut their price objective on Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, June 29th. Truist Financial reduced their price objective on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Susquehanna lowered their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.12.

Range Resources Price Performance

NYSE RRC opened at $38.97 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $38.23 and a 200 day simple moving average of $39.46. The company has a market cap of $9.11 billion, a P/E ratio of 10.77 and a beta of 0.41. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. On average, sell-side analysts predict that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Dividend Announcement

The business 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. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

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.