American Century Companies Inc. Has $28.39 Million Stock Position in Range Resources Corporation $RRC

Key Points

• American Century Companies Inc. boosted its stake in Range Resources by 7.1% to 754,293 shares, worth about $28.39 million (≈0.32% of the company) after buying 49,979 shares in Q3.
• Range Resources beat quarterly expectations with $0.82 EPS vs. $0.69 estimate and revenue up 30.9% YoY to $786.9M, and it raised its quarterly dividend to $0.10 (annualized $0.40, ~1.0% yield).
• Institutional investors own 98.93% of RRC (Vanguard holds ~24.85M shares worth ~$935M), and analysts show a consensus Hold rating with a $42.06 price target while the stock trades at a ~$9.78B market cap and a P/E of 15.17.

American Century Companies Inc. boosted its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 754,293 shares of the oil and gas exploration company's stock after purchasing an additional 49,979 shares during the period. American Century Companies Inc. owned about 0.32% of Range Resources worth $28,392,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Range Resources by 3.3% in the third quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company's stock valued at $935,425,000 after acquiring an additional 799,574 shares during the last quarter. Boston Partners increased its holdings in Range Resources by 6.1% during the 2nd quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company's stock valued at $301,133,000 after purchasing an additional 425,704 shares in the last quarter. Lingotto Investment Management LLP increased its holdings in Range Resources by 2.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company's stock valued at $291,263,000 after purchasing an additional 138,877 shares in the last quarter. Invesco Ltd. raised its position in Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company's stock valued at $194,644,000 after purchasing an additional 3,336,299 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Range Resources by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,442,223 shares of the oil and gas exploration company's stock valued at $129,565,000 after purchasing an additional 157,387 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Down 0.6%

NYSE RRC opened at $41.57 on Monday. The stock has a market capitalization of $9.78 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.38 and a beta of 0.57. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average of $36.77 and a 200-day moving average of $36.66.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm's revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities research analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, March 13th. This is a boost from Range Resources's previous quarterly dividend of $0.09. Range Resources's dividend payout ratio is currently 13.14%.

Analysts Set New Price Targets

RRC has been the topic of several research analyst reports. Bank of America restated a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. TD Cowen raised Range Resources to a "hold" rating in a report on Monday, February 9th. Wells Fargo & Company upped their price target on shares of Range Resources from $43.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 26th. Weiss Ratings raised shares of Range Resources from a "hold (c)" rating to a "buy (b)" rating in a report on Friday, February 27th. Finally, Royal Bank Of Canada lowered their price objective on shares of Range Resources from $46.00 to $44.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.06.

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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