164,150 Shares in Range Resources Corporation $RRC Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management purchased 164,150 shares of Range Resources, valued at approximately $6.1 million, giving it a 0.07% stake. Institutional investors collectively own 98.93% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $43.75; several firms recently lowered their targets.
• Range Resources beat quarterly earnings expectations, reporting $0.79 in EPS versus $0.66 expected and $759.6 million in revenue, although revenue declined 2.7% year over year.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 164,150 shares of the oil and gas exploration company's stock, valued at approximately $6,105,000. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Range Resources at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RRC. Empowered Funds LLC grew its holdings in Range Resources by 2.1% in the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company's stock worth $3,029,000 after purchasing an additional 1,563 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Range Resources by 1.9% during the first 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 valued at $18,639,000 after purchasing an additional 8,816 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Range Resources during the first quarter valued at approximately $285,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Range Resources by 63.5% during 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 last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Range Resources by 8.0% in the 2nd quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company's stock worth $16,701,000 after purchasing an additional 30,481 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Insider Activity at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director owned 13,421 shares of the company's stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

RRC has been the topic of several recent research reports. Raymond James Financial set a $45.00 price target on Range Resources in a research note on Monday, July 27th. Weiss Ratings cut Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Susquehanna dropped their target price on Range Resources from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. Citigroup reissued a "neutral" rating on shares of Range Resources in a research note on Thursday, July 23rd. Finally, Barclays reduced their price target on Range Resources from $43.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Range Resources has a consensus rating of "Hold" and an average target price of $43.75.

Range Resources Trading Up 0.4%

NYSE:RRC opened at $41.72 on Friday. The company's 50 day moving average price is $38.45 and its 200-day moving average price is $40.24. Range Resources Corporation has a 52 week low of $32.68 and a 52 week high of $48.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 11.52 and a beta of 0.42.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $759.58 million during 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 firm's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, equities research analysts forecast that Range Resources Corporation will post 3.62 earnings per share for the current fiscal year.

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.

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