800,000 Shares in Range Resources Corporation $RRC Purchased by Bornite Capital Management LP

Key Points

• Bornite Capital Management bought 800,000 shares of Range Resources in the fourth quarter, a position worth about $28.2 million and equal to 2.8% of its portfolio.
• Range Resources reported strong quarterly results, with EPS of $1.52 topping estimates and revenue rising 49.8% year over year to $1.07 billion.
• The company declared a quarterly dividend of $0.10 per share, while analysts currently have a Hold consensus rating and an average price target of $44.

Bornite Capital Management LP purchased a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 800,000 shares of the oil and gas exploration company's stock, valued at approximately $28,208,000. Range Resources accounts for approximately 2.8% of Bornite Capital Management LP's investment portfolio, making the stock its 14th largest position. Bornite Capital Management LP owned 0.34% of Range Resources as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in Range Resources during the fourth quarter worth about $34,000. Smartleaf Asset Management LLC grew its holdings in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 336 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in Range Resources during the fourth quarter worth about $57,000. Basepoint Wealth LLC bought a new position in Range Resources during the fourth quarter worth about $61,000. Finally, International Assets Investment Management LLC bought a new position in Range Resources during the fourth quarter worth about $71,000. Institutional investors own 98.93% of the company's stock.

Range Resources Trading Up 1.4%

Shares of NYSE:RRC opened at $38.53 on Friday. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The stock has a market cap of $9.08 billion, a PE ratio of 10.19 and a beta of 0.42. The business has a 50 day moving average of $41.36 and a 200-day moving average of $39.36. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $898.20 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business's revenue was up 49.8% on a year-over-year basis. As a group, equities research analysts forecast that Range Resources Corporation will post 3.71 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 12th. Range Resources's payout ratio is presently 10.58%.

Insider Buying and Selling at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

Range Resources News Roundup

Here are the key news stories impacting Range Resources this week:

• Positive Sentiment: Zacks Research raised its earnings estimates for multiple periods, including FY2026 to $3.48 per share, Q3 2026 to $0.67, Q3 2027 to $0.72, Q2 2027 to $0.78, and Q4 2026 to $0.85, signaling improved expectations for Range Resources' earnings power.
• Positive Sentiment: A Yahoo Finance-linked article highlighted that an analyst raised the price target on Range Resources, suggesting at least one bullish valuation revision for the stock. Analyst Raises Price Target on Range Resources (RRC)
• Neutral Sentiment: Despite the higher estimates, Zacks still labels Range Resources as Hold in one update, and its latest consensus-style outlook remains below the broader current-year estimate of $3.70 per share.
• Negative Sentiment: Zacks Research also downgraded Range Resources from Strong Buy to Hold, which may have weighed on sentiment even as earnings forecasts improved.
• Negative Sentiment: One estimate was cut: Zacks lowered Q2 2026 EPS to $0.48 from $0.51, showing some caution around near-term performance.

Analysts Set New Price Targets

A number of equities analysts recently commented on RRC shares. Truist Financial reduced 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. Weiss Ratings cut Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 2nd. TD Cowen boosted their price objective on Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, March 17th. Stephens reduced their price objective on Range Resources from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Finally, Citigroup reduced their price objective on Range Resources from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, Range Resources has a consensus rating of "Hold" and an average price target of $44.00.

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.

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