JGP Global Gestao de Recursos Ltda. Buys Shares of 200,000 Range Resources Corporation $RRC

Key Points

• JGP Global Gestao de Recursos Ltda. bought a new stake of 200,000 shares (~$7.05M) in Range Resources, making the stock its fourth-largest holding (4.2%) and representing about 0.08% of Range's shares.
• Range Resources beat expectations with EPS $0.82 vs. $0.69 and revenue of $786.89M (up 30.9% year-over-year), and analysts project roughly 2.02 EPS for the year.
• The company increased its quarterly dividend to $0.10 per share (annualized $0.40, yield 0.9%) and has a dividend payout ratio of 14.6%.

JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 200,000 shares of the oil and gas exploration company's stock, valued at approximately $7,052,000. Range Resources accounts for 4.2% of JGP Global Gestao de Recursos Ltda.'s portfolio, making the stock its 4th largest holding. JGP Global Gestao de Recursos Ltda. owned approximately 0.08% of Range Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC lifted its stake in Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 541 shares during the period. Smartleaf Asset Management LLC lifted its stake in Range Resources by 49.6% during the 3rd 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 period. Clearstead Advisors LLC lifted its stake in Range Resources by 439.5% during the 3rd 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 period. Hantz Financial Services Inc. lifted its stake in Range Resources by 206.4% during the 3rd 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 period. Finally, Quent Capital LLC bought a new position in Range Resources during the 3rd quarter valued at about $96,000. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of NYSE:RRC opened at $42.31 on Friday. The firm's 50 day moving average price is $41.65 and its 200-day moving average price is $38.41. Range Resources Corporation has a twelve month low of $32.08 and a twelve month high of $48.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.96 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm had revenue of $786.89 million for the quarter, compared to analysts' expectations of $770.92 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business's quarterly revenue was up 30.9% on a year-over-year basis. Equities research analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, March 13th. This is a positive change from Range Resources's previous quarterly dividend of $0.09. Range Resources's dividend payout ratio (DPR) is 14.60%.

Insider Buying and Selling

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the firm's stock in a transaction that occurred 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 owned 28,668 shares in the company, valued at approximately $1,272,859.20. This trade 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 the SEC website. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on RRC. Bank of America restated a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Piper Sandler upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. Morgan Stanley lowered their target price on shares of Range Resources from $42.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Friday, January 23rd. Royal Bank Of Canada lowered their price objective on shares of Range Resources from $46.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 14th. Finally, Freedom Capital upgraded shares of Range Resources to a "hold" rating in a research note on Thursday, April 2nd. Four equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus target price of $42.76.

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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