Curi RMB Capital LLC Raises Holdings in Range Resources Corporation $RRC

Key Points

• Curi RMB Capital LLC increased its stake in Range Resources Corporation by 13.8%, holding over $21 million worth of shares by the end of the first quarter.
• Range Resources reported a quarterly earnings per share of $0.66, surpassing estimates, with a revenue of $856.28 million for the last quarter.
• The company declared a quarterly dividend of $0.09 per share, with a 1.0% yield, to be paid on September 26th.

Curi RMB Capital LLC boosted its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,818 shares of the oil and gas exploration company's stock after acquiring an additional 64,239 shares during the quarter. Curi RMB Capital LLC owned about 0.22% of Range Resources worth $21,156,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Range Resources by 98.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock worth $720,000 after purchasing an additional 8,941 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Range Resources by 24.5% during the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock valued at $15,249,000 after acquiring an additional 83,353 shares during the last quarter. Informed Momentum Co LLC purchased a new stake in shares of Range Resources in the 1st quarter valued at approximately $3,575,000. Advisor Resource Council acquired a new position in shares of Range Resources in the 1st quarter worth approximately $622,000. Finally, Goehring & Rozencwajg Associates LLC boosted its position in shares of Range Resources by 1.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock worth $57,803,000 after purchasing an additional 25,403 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Up 0.6%

Shares of RRC traded up $0.21 during midday trading on Tuesday, reaching $34.27. The stock had a trading volume of 849,922 shares, compared to its average volume of 2,849,204. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The company's fifty day simple moving average is $35.69 and its two-hundred day simple moving average is $37.06. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.29 and a beta of 0.55. Range Resources Corporation has a 1-year low of $27.55 and a 1-year high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same period last year, the firm earned $0.46 earnings per share. Equities research analysts expect that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 12th. Range Resources's payout ratio is currently 18.09%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler decreased their price target on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Roth Capital downgraded Range Resources from a "buy" rating to a "neutral" rating and cut their price objective for the company from $44.00 to $35.00 in a report on Monday, August 18th. Scotiabank set a $46.00 target price on Range Resources and gave the company a "sector perform" rating in a report on Friday, July 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $45.00 target price on shares of Range Resources in a research report on Tuesday, July 15th. Finally, Susquehanna increased their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $42.75.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.