HighTower Advisors LLC Grows Holdings in Range Resources Corporation $RRC

Key Points

• HighTower Advisors LLC increased its stake in Range Resources by 19.9% in the fourth quarter, adding 32,122 shares to reach 193,142 shares valued at about $6.81 million.
• Range Resources reported strong quarterly results, posting EPS of $1.52 versus the $1.25 estimate and revenue of $1.07 billion, well above expectations and up 49.8% year over year.
• Wall Street remains cautious overall: analysts’ consensus rating is Hold with an average price target of $44, while insider director Brenda A. Cline recently sold 7,000 shares.

HighTower Advisors LLC lifted its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 19.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,142 shares of the oil and gas exploration company's stock after buying an additional 32,122 shares during the quarter. HighTower Advisors LLC owned approximately 0.08% of Range Resources worth $6,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of Range Resources by 49.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 336 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Range Resources in the 4th quarter worth about $71,000. Clearstead Advisors LLC grew its position in shares of Range Resources by 439.5% in the 3rd quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company's stock worth $79,000 after buying an additional 1,714 shares during the period. Hantz Financial Services Inc. grew its position in shares of Range Resources by 206.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company's stock worth $87,000 after buying an additional 1,550 shares during the period. Finally, Toth Financial Advisory Corp grew its position in shares of Range Resources by 59.5% in the 4th quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company's stock worth $94,000 after buying an additional 1,000 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of Range Resources stock opened at $39.25 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 10.38 and a beta of 0.46. The firm's 50-day moving average is $42.82 and its 200 day moving average is $39.30. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. Sell-side analysts anticipate that Range Resources Corporation will post 3.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. Truist Financial dropped their price target on shares of Range Resources from $48.00 to $46.00 and set a "hold" rating on the stock in a research note on Thursday, April 9th. Morgan Stanley upped their price target on shares of Range Resources from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Barclays upped their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Monday, March 16th. Finally, Weiss Ratings upgraded shares of Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $44.00.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the company's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the transaction, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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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