81,958 Shares in Range Resources Corporation $RRC Bought by Stanley Laman Group Ltd.

Key Points

• Stanley Laman Group opened a new position in Range Resources by buying 81,958 shares (about $2.89M) in Q4, and institutional investors now own roughly 98.93% of the company.
• Q4 results beat expectations: Range Resources reported EPS of $0.82 vs. $0.69 expected and revenue of $786.9M (up 30.9% YoY), with a 21.1% net margin and 16.3% return on equity.
• Dividend raised to $0.10 quarterly (annualized $0.40, yield 0.9%, DPR 14.6%), while analysts maintain a consensus "Hold" rating with a $43.06 target price.

Stanley Laman Group Ltd. bought a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 81,958 shares of the oil and gas exploration company's stock, valued at approximately $2,890,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversify Advisory Services LLC lifted its position in Range Resources by 11.6% in the fourth quarter. Diversify Advisory Services LLC now owns 11,176 shares of the oil and gas exploration company's stock worth $385,000 after purchasing an additional 1,159 shares during the period. Accordant Advisory Group Inc lifted its position in Range Resources by 4.0% in the fourth quarter. Accordant Advisory Group Inc now owns 42,294 shares of the oil and gas exploration company's stock worth $1,491,000 after purchasing an additional 1,631 shares during the period. V Square Quantitative Management LLC bought a new position in Range Resources in the fourth quarter worth $125,000. Aaron Wealth Advisors LLC bought a new position in Range Resources in the fourth quarter worth $439,000. Finally, Portside Wealth Group LLC lifted its position in Range Resources by 13.5% in the fourth quarter. Portside Wealth Group LLC now owns 8,749 shares of the oil and gas exploration company's stock worth $308,000 after purchasing an additional 1,043 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Performance

NYSE:RRC opened at $42.89 on Monday. Range Resources Corporation has a 1 year low of $31.82 and a 1 year high of $48.31. The firm has a 50 day moving average of $41.20 and a 200-day moving average of $38.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $10.10 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.35 and a beta of 0.51.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company had revenue of $786.89 million during the quarter, compared to analysts' expectations of $770.92 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. Range Resources's quarterly revenue was up 30.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. This is a positive change from Range Resources's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 13th. Range Resources's dividend payout ratio (DPR) is presently 14.60%.

Insider Activity

In related news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company's stock, valued at $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 SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RRC has been the subject of several research reports. Wells Fargo & Company raised their target price on Range Resources from $43.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 26th. Royal Bank Of Canada cut their price objective on Range Resources from $46.00 to $44.00 and set a "sector perform" rating for the company in a report on Wednesday, January 14th. Freedom Capital raised Range Resources to a "hold" rating in a report on Thursday, April 2nd. Piper Sandler lifted their price objective on Range Resources from $41.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Finally, Truist Financial cut their price objective on Range Resources from $48.00 to $46.00 and set a "hold" rating for the company in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.06.

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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