King Luther Capital Management Corp Increases Stake in Range Resources Corporation $RRC

Key Points

• King Luther Capital Management boosted its Range Resources stake by 49.8% in the fourth quarter, buying 426,300 additional shares and bringing its total to 1,281,975 shares worth about $45.2 million.
• Range Resources reported strong quarterly results, with EPS of $1.52 versus $1.25 expected and revenue of $1.07 billion, topping estimates and rising 49.8% year over year.
• Wall Street sentiment remains mixed: analysts assign an average "Hold" rating with a consensus target price of $44, while the stock recently traded around $40.03 and was down 2.5% on the day.

King Luther Capital Management Corp raised its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,281,975 shares of the oil and gas exploration company's stock after buying an additional 426,300 shares during the quarter. King Luther Capital Management Corp owned about 0.54% of Range Resources worth $45,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Range Resources by 49.6% in 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 purchasing an additional 336 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Range Resources in the fourth quarter valued at $71,000. Clearstead Advisors LLC grew its holdings in shares of Range Resources by 439.5% in 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 purchasing an additional 1,714 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Range Resources by 206.4% in 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 purchasing an additional 1,550 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in shares of Range Resources by 59.5% in 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 purchasing an additional 1,000 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the firm's stock in a transaction on 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 sale, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. This trade represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RRC. Freedom Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. TD Cowen raised their target price on shares of Range Resources from $40.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, March 17th. Bank of America raised their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. Stephens cut their target price on shares of Range Resources from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus target price of $44.00.

Range Resources Stock Down 2.5%

Shares of RRC opened at $40.03 on Wednesday. The company has a market cap of $9.43 billion, a PE ratio of 10.59 and a beta of 0.46. The business has a fifty day moving average of $42.91 and a 200 day moving average of $39.28. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.Range Resources's revenue was up 49.8% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. On average, sell-side analysts expect that Range Resources Corporation will post 3.75 EPS for the current year.

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.

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