50,605 Shares in Range Resources Corporation $RRC Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired 50,605 shares of Range Resources Corporation, valued at approximately $2,021,000, marking a significant investment in the oil and gas exploration sector.
• Range Resources Corporation reported earnings of $0.66 per share, exceeding the consensus estimate and showing a strong revenue increase from $708.38 million to $856.28 million.
• The company has declared a quarterly dividend of $0.09 per share, with a dividend yield of 1.0%, indicating its commitment to returning value to shareholders.

Dynamic Technology Lab Private Ltd bought a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 50,605 shares of the oil and gas exploration company's stock, valued at approximately $2,021,000.

Several other hedge funds also recently bought and sold shares of RRC. Petrus Trust Company LTA bought a new stake in Range Resources in the 1st quarter valued at $208,000. Eventide Asset Management LLC bought a new stake in Range Resources in the 1st quarter valued at $8,852,000. Curi RMB Capital LLC increased its holdings in Range Resources by 13.8% in the 1st quarter. Curi RMB Capital LLC now owns 529,818 shares of the oil and gas exploration company's stock valued at $21,156,000 after acquiring an additional 64,239 shares during the last quarter. AQR Capital Management LLC increased its holdings in Range Resources by 3,222.9% in the 1st quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company's stock valued at $21,528,000 after acquiring an additional 522,910 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Range Resources in the 1st quarter valued at $1,727,000. Institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RRC. UBS Group reduced their price target on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Susquehanna lifted their price target on shares of Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Roth Capital lowered shares of Range Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Royal Bank Of Canada restated a "sector perform" rating and issued a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Finally, Barclays increased their price target on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Range Resources currently has an average rating of "Hold" and an average target price of $42.75.

Range Resources Trading Down 0.7%

Shares of RRC opened at $34.68 on Friday. Range Resources Corporation has a twelve month low of $27.55 and a twelve month high of $43.50. The company has a market cap of $8.26 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.29 and a beta of 0.55. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company's fifty day simple moving average is $35.83 and its 200-day simple moving average is $37.11.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources's dividend payout ratio is currently 18.09%.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.

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