99,581 Shares in Range Resources Corporation $RRC Purchased by First American Trust FSB

Key Points

• First American Trust FSB opened a new position in Range Resources, buying 99,581 shares worth about $3.51 million in the fourth quarter.
• Range Resources reported strong quarterly results, with EPS of $1.52 versus the $1.25 consensus and revenue of $1.07 billion, up 49.8% year over year.
• The company also announced a quarterly dividend of $0.10 per share, while analysts currently rate the stock a consensus “Hold” with an average price target of $44.

First American Trust FSB bought 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 disclosure with the Securities and Exchange Commission (SEC). The fund bought 99,581 shares of the oil and gas exploration company's stock, valued at approximately $3,511,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources during the fourth quarter worth about $34,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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. acquired a new stake in shares of Range Resources during the fourth quarter worth about $57,000. Basepoint Wealth LLC acquired a new stake in shares of Range Resources during the fourth quarter worth about $61,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Range Resources during the fourth quarter worth about $71,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Range Resources from $43.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. Citigroup reduced their price target on Range Resources from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Bank of America lifted their price target on Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Zacks Research upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Finally, Barclays lifted their price target on Range Resources from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $44.00.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 28,668 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

Range Resources Stock Up 1.9%

Shares of RRC stock opened at $39.17 on Thursday. The stock has a 50 day moving average of $41.60 and a 200 day moving average of $39.37. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.23 billion, a P/E ratio of 10.36 and a beta of 0.42. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.Range Resources's quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that Range Resources Corporation will post 3.7 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources's payout ratio is 10.58%.

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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