1,427,203 Shares in Range Resources Corporation $RRC Bought by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital acquired 1,427,203 shares of Range Resources in the first quarter, valued at approximately $64.5 million and representing a 0.61% stake. Institutional investors collectively own 98.93% of the company.
• Analyst sentiment is largely neutral: Range Resources has an average “Hold” rating and a consensus price target of $43.12, while recent actions included downgrades from Zacks Research and Weiss Ratings.
• Range Resources exceeded quarterly earnings expectations with $0.79 EPS versus a $0.66 consensus and $759.6 million in revenue. The company also maintains a $0.10 quarterly dividend, equivalent to a 1.0% yield.

Arrowstreet Capital Limited Partnership bought a new position in Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,427,203 shares of the oil and gas exploration company's stock, valued at approximately $64,481,000. Arrowstreet Capital Limited Partnership owned 0.61% of Range Resources at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in Range Resources by 2.1% in the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company's stock valued at $3,029,000 after purchasing an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Range Resources by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company's stock worth $18,639,000 after purchasing an additional 8,816 shares during the last quarter. Focus Partners Wealth bought a new position in Range Resources in the 1st quarter worth about $285,000. EverSource Wealth Advisors LLC increased its stake in shares of Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company's stock valued at $119,000 after purchasing an additional 1,139 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Range Resources by 8.0% in the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company's stock valued at $16,701,000 after purchasing an additional 30,481 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RRC. Zacks Research downgraded Range Resources from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Truist Financial lowered their target price on Range Resources from $46.00 to $43.00 and set a "hold" rating on the stock in a research report on Friday, July 10th. Weiss Ratings downgraded Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday. Citigroup reiterated a "neutral" rating on shares of Range Resources in a research report on Thursday. Finally, Stephens increased their price target on Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $43.12.

Range Resources Trading Up 0.0%

Range Resources stock opened at $38.97 on Monday. The firm has a market cap of $9.11 billion, a price-to-earnings 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. The firm's 50 day moving average price is $38.23 and its two-hundred day moving average price 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, research analysts predict that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources's dividend payout ratio 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.

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