Aristotle Capital Boston LLC Has $13.13 Million Holdings in Range Resources Corporation $RRC

Key Points

• Aristotle Capital Boston LLC reduced its Range Resources stake by 8.2% in the fourth quarter, holding 372,346 shares valued at about $13.13 million at quarter-end.
• Range Resources reported strong first-quarter results, posting EPS of $1.52 versus expectations of $1.25 and revenue of $1.07 billion, up 49.8% year over year.
• The company also declared a quarterly dividend of $0.10 per share, while analysts currently view the stock cautiously with a consensus rating of Hold and a $44 average price target.

Aristotle Capital Boston LLC cut its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 372,346 shares of the oil and gas exploration company's stock after selling 33,090 shares during the period. Aristotle Capital Boston LLC owned about 0.16% of Range Resources worth $13,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RRC. Boston Partners raised its holdings in shares of Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock valued at $445,196,000 after purchasing an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC increased its holdings in Range Resources by 517.6% during the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock worth $91,852,000 after buying an additional 2,045,165 shares during the last quarter. Holocene Advisors LP acquired a new position in Range Resources during the third quarter worth $66,560,000. UBS Group AG increased its holdings in Range Resources by 66.3% during the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after buying an additional 1,430,477 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Range Resources by 54.1% during the fourth quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company's stock worth $115,202,000 after buying an additional 1,147,304 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Performance

NYSE RRC opened at $36.67 on Thursday. The firm has a 50-day moving average of $40.98 and a 200-day moving average of $39.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $8.64 billion, a PE ratio of 9.70 and a beta of 0.42. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results 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. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. Range Resources's quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 EPS. On average, sell-side analysts anticipate that Range Resources Corporation will post 3.71 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 12th. Range Resources's dividend payout ratio (DPR) is currently 10.58%.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the firm's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RRC. Citigroup lowered their target price on shares of Range Resources from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. TD Cowen boosted their target price on shares of Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, March 17th. Freedom Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Morgan Stanley boosted their target price on shares of Range Resources from $49.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 22nd. Finally, Stephens lowered their target price on shares of Range Resources from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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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