Fisher Asset Management LLC Trims Position in Range Resources Corporation $RRC

Key Points

• Fisher Asset Management reduced its stake in Range Resources by 3.5% in the fourth quarter, selling 27,346 shares and ending with 749,728 shares valued at about $26.4 million.
• Analyst sentiment is mixed but improving: several firms recently upgraded Range Resources, and the stock currently has a consensus rating of Hold with an average price target of $44.00.
• Recent results topped expectations, with Range Resources reporting $1.52 EPS on revenue of $1.07 billion, both ahead of estimates, while revenue rose nearly 50% year over year.

Fisher Asset Management LLC lessened its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 749,728 shares of the oil and gas exploration company's stock after selling 27,346 shares during the quarter. Fisher Asset Management LLC owned 0.32% of Range Resources worth $26,435,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 336 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Range Resources during the fourth quarter valued at $71,000. Clearstead Advisors LLC increased its position in Range Resources by 439.5% during the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company's stock valued at $79,000 after acquiring an additional 1,714 shares during the last quarter. Hantz Financial Services Inc. increased its position in Range Resources by 206.4% during the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company's stock valued at $87,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its position in Range Resources by 59.5% during the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company's stock valued at $94,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of research reports. Weiss Ratings upgraded Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Freedom Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. Truist Financial reduced their price target on Range Resources from $48.00 to $46.00 and set a "hold" rating for the company in a research report on Thursday, April 9th. Bank of America upped their price target on Range Resources from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Range Resources presently has an average rating of "Hold" and a consensus price target of $44.00.

Range Resources Stock Performance

Shares of RRC opened at $40.03 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $42.91 and a two-hundred day simple moving average of $39.28. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 10.59 and a beta of 0.46. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The business's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. On average, analysts expect that Range Resources Corporation will post 3.75 EPS for the current year.

Insider Buying and Selling at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the company's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares of the company's stock, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

About Range Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.