EFG International AG Makes New Investment in Range Resources Corporation $RRC

Key Points

• EFG International AG acquired 70,333 shares of Range Resources in the second quarter, valued at approximately $2.6 million. Institutional investors collectively own 98.93% of the company.
• Analyst sentiment remains cautious: Range Resources has a consensus rating of “Hold” and an average price target of $43.75, with several firms recently lowering their targets.
• Range Resources exceeded quarterly earnings expectations, reporting $0.79 in EPS versus the $0.66 consensus and $759.6 million in revenue. The company also maintains a quarterly dividend of $0.10 per share, equal to a 1.0% annual yield.

EFG International AG acquired a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 70,333 shares of the oil and gas exploration company's stock, valued at approximately $2,615,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Seelaus Asset Management LLC lifted its stake in Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company's stock worth $440,000 after purchasing an additional 250 shares during the last quarter. Root Financial Partners LLC raised its holdings 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 worth $45,000 after purchasing an additional 276 shares in the last quarter. UMB Bank n.a. raised its holdings in Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company's stock worth $86,000 after purchasing an additional 279 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company's stock worth $1,745,000 after buying an additional 330 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Range Resources by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,165 shares of the oil and gas exploration company's stock worth $369,000 after buying an additional 332 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Ratings Changes

RRC has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Wells Fargo & Company decreased their price objective on shares of Range Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, July 23rd. Morgan Stanley decreased their price objective on shares of Range Resources from $44.00 to $43.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 19th. Barclays dropped their price objective on Range Resources from $43.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, August 17th. Finally, Zacks Research raised Range Resources from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.75.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director 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 this hyperlink. Company insiders own 1.10% of the company's stock.

Range Resources Trading Up 1.6%

Shares of RRC stock opened at $41.64 on Thursday. The company has a market capitalization of $9.73 billion, a P/E ratio of 11.50 and a beta of 0.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $38.35 and its two-hundred day moving average is $40.21. Range Resources Corporation has a twelve month low of $32.68 and a twelve month high of $48.31.

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

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.10 per share. The ex-dividend date 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 is presently 11.05%.

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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