Castleark Management LLC Purchases 336,500 Shares of Range Resources Corporation $RRC

Castleark Management LLC raised its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 454.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 410,520 shares of the oil and gas exploration company's stock after buying an additional 336,500 shares during the quarter. Castleark Management LLC owned about 0.17% of Range Resources worth $18,547,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Range Resources in the 4th quarter worth approximately $34,000. Root Financial Partners LLC lifted its position in Range Resources by 37.8% during the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company's stock valued at $45,000 after acquiring an additional 276 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Range Resources during the fourth quarter valued at approximately $57,000. Basepoint Wealth LLC acquired a new stake in Range Resources in the fourth quarter valued at approximately $61,000. Finally, International Assets Investment Management LLC acquired a new stake in Range Resources in the fourth quarter valued at approximately $71,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RRC has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Range Resources from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, June 29th. UBS Group decreased their price objective on Range Resources from $49.00 to $44.00 and set a "neutral" rating for the company in a report on Friday, July 10th. Wells Fargo & Company lowered their price objective on Range Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday. Weiss Ratings downgraded Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday. Finally, The Goldman Sachs Group reduced their target price on Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.12.

Range Resources Trading Up 0.0%

NYSE RRC opened at $38.97 on Monday. The company has a fifty day simple moving average of $38.23 and a two-hundred day simple moving average of $39.46. The stock has a market cap of $9.11 billion, a P/E ratio of 10.77 and a beta of 0.41. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. Range Resources's revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts forecast that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid 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 of this dividend was Friday, June 12th. Range Resources's dividend payout ratio is presently 11.05%.

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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