Deutsche Bank AG Purchases New Holdings in Range Resources Corporation $RRC

Key Points

• Deutsche Bank acquired 99,043 shares of Range Resources in the second quarter, valued at approximately $3.7 million. Institutional investors and hedge funds collectively own 98.93% of the company.
• Range Resources exceeded quarterly earnings expectations, reporting $0.79 EPS versus the $0.66 consensus estimate, while revenue reached $759.6 million. However, revenue declined 2.7% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $43.75 price target. The company also maintains a quarterly dividend of $0.10 per share, representing a 1.0% annualized yield.

Deutsche Bank AG acquired a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 99,043 shares of the oil and gas exploration company's stock, valued at approximately $3,683,000.

Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners increased its stake in Range Resources by 59.3% in the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock valued at $445,196,000 after buying an additional 4,398,042 shares during the period. AQR Capital Management LLC lifted its stake in shares of Range Resources by 517.6% in the 3rd 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 acquiring an additional 2,045,165 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Range Resources in the second quarter valued at about $67,470,000. UBS Group AG boosted its holdings in shares of Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock valued at $126,532,000 after acquiring an additional 1,430,477 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Range Resources in the first quarter valued at about $64,481,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director directly owned 13,421 shares in the company, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on RRC shares. Wells Fargo & Company cut their price target on shares of Range Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. UBS Group reaffirmed a "neutral" rating on shares of Range Resources in a report on Thursday, August 13th. Stephens boosted their target price on Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Barclays cut their target price on Range Resources from $43.00 to $40.00 and set an "equal weight" rating for the company in a research note on Monday, August 17th. Finally, Weiss Ratings cut Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $43.75.

Range Resources Stock Performance

NYSE:RRC opened at $40.97 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a fifty-two week low of $32.68 and a fifty-two week high of $48.31. The stock has a market cap of $9.57 billion, a PE ratio of 11.32 and a beta of 0.42. The firm's fifty day simple moving average is $38.25 and its 200-day simple moving average is $40.17.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same quarter last year, the firm posted $0.66 EPS. The business's revenue was down 2.7% compared to the same quarter last year. Analysts expect that Range Resources Corporation will post 3.62 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is 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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