Intech Investment Management LLC Has $1.12 Million Stock Holdings in Range Resources Corporation $RRC

Key Points

• Intech Investment Management sharply reduced its Range Resources stake by 84.7% in the fourth quarter, selling 175,122 shares and leaving it with 31,716 shares worth about $1.12 million.
• Range Resources reported a strong quarterly beat, posting $1.52 EPS versus the $1.25 estimate and revenue of $1.07 billion, up 49.8% year over year.
• The company declared a quarterly dividend of $0.10 per share payable June 26, while analysts currently rate the stock a consensus Hold with an average price target of $44.00.

Intech Investment Management LLC cut its position in Range Resources Corporation (NYSE:RRC - Free Report) by 84.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,716 shares of the oil and gas exploration company's stock after selling 175,122 shares during the period. Intech Investment Management LLC's holdings in Range Resources were worth $1,118,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RRC. Boston Partners increased its position in shares of Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock worth $445,196,000 after acquiring an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Range Resources by 517.6% during the third 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 in the last quarter. Holocene Advisors LP bought a new stake in shares of Range Resources during the third quarter worth $66,560,000. UBS Group AG increased its position in shares of Range Resources by 66.3% during the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after acquiring an additional 1,430,477 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Range Resources during the fourth quarter worth $37,820,000. Institutional investors own 98.93% of the company's stock.

Range Resources Stock Performance

Shares of RRC opened at $39.06 on Friday. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The firm has a fifty day simple moving average of $42.08 and a 200 day simple moving average of $39.36. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 10.33 and a beta of 0.42. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $898.20 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The firm's revenue was up 49.8% on a year-over-year basis. Research analysts forecast that Range Resources Corporation will post 3.7 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 12th. Range Resources's dividend payout ratio is 10.58%.

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 on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director directly owned 28,668 shares of the company's stock, valued at approximately $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 through this hyperlink. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RRC. Zacks Research raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Barclays increased their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Piper Sandler increased their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Stephens lowered their price objective on shares of Range Resources from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Finally, Weiss Ratings downgraded shares of Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $44.00.

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.

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC - Free Report).

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.