BW Gestao de Investimentos Ltda. Has $3.45 Million Stock Holdings in Range Resources Corporation $RRC

Key Points

• BW Gestao de Investimentos cut its Range Resources stake by 36.8% in the fourth quarter, selling 57,067 shares and leaving it with 97,900 shares worth about $3.45 million.
• Range Resources reported strong quarterly results, with EPS of $1.52 topping estimates and revenue of $1.07 billion beating expectations by a wide margin. Revenue also rose 49.8% year over year.
• Analysts are mixed on the stock: the consensus rating is Hold with a $44.00 target price, while the company also announced a quarterly dividend of $0.10 per share payable June 26.

BW Gestao de Investimentos Ltda. lowered its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 36.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,900 shares of the oil and gas exploration company's stock after selling 57,067 shares during the period. BW Gestao de Investimentos Ltda.'s holdings in Range Resources were worth $3,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Easterly Investment Partners LLC boosted its position in Range Resources by 1.6% in the 4th quarter. Easterly Investment Partners LLC now owns 458,964 shares of the oil and gas exploration company's stock valued at $16,183,000 after buying an additional 7,297 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Range Resources in the fourth quarter worth about $732,000. Basepoint Wealth LLC acquired a new stake in Range Resources in the fourth quarter worth about $61,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Range Resources in the fourth quarter worth about $57,000. Finally, Geode Capital Management LLC increased its position in Range Resources by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,337,001 shares of the oil and gas exploration company's stock worth $152,971,000 after purchasing an additional 41,078 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analyst Weigh In

RRC has been the subject of a number of research reports. Stephens lowered their price objective on Range Resources from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Bank of America lifted their price objective on Range Resources from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Wells Fargo & Company lifted their price objective 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. Finally, Barclays lifted their price objective on Range Resources from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Range Resources currently has a consensus rating of "Hold" and a consensus target price of $44.00.

Range Resources Trading Down 0.4%

NYSE:RRC opened at $39.62 on Wednesday. Range Resources Corporation has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $9.34 billion, a PE ratio of 10.48 and a beta of 0.42. The business's 50-day simple moving average is $42.53 and its 200-day simple moving average is $39.33.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data 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. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $898.20 million. During the same quarter in the previous year, the business posted $0.96 EPS. Range Resources's revenue for the quarter was up 49.8% on a year-over-year basis. Sell-side analysts expect that Range Resources Corporation will post 3.7 earnings per share for the current fiscal 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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 12th. Range Resources's payout ratio is 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 dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the transaction, the director owned 28,668 shares in the company, valued at $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

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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