Life Cycle Investment Partners Ltd Acquires New Position in Range Resources Corporation $RRC

Key Points

• Life Cycle Investment Partners Ltd disclosed a new fourth-quarter position in Range Resources, buying 599,248 shares valued at about $21.1 million, according to its latest 13F filing.
• Range Resources reported better-than-expected quarterly results, with EPS of $1.52 versus $1.25 expected and revenue of $1.07 billion, up 49.8% year over year.
• The company also raised its quarterly dividend to $0.10 per share from $0.09, while analysts currently maintain a consensus Hold rating with a target price of $44.00.

Life Cycle Investment Partners Ltd acquired a new stake in Range Resources Corporation (NYSE:RRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 599,248 shares of the oil and gas exploration company's stock, valued at approximately $21,129,000. Life Cycle Investment Partners Ltd owned 0.25% of Range Resources as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Profund Advisors LLC raised its stake in Range Resources by 5.5% in the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company's stock valued at $204,000 after acquiring an additional 282 shares during the period. Pinnacle Associates Ltd. raised its stake in Range Resources by 2.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company's stock valued at $471,000 after acquiring an additional 302 shares during the period. Confluence Wealth Services Inc. grew its holdings in Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company's stock valued at $360,000 after buying an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 buying an additional 336 shares in the last quarter. Finally, Seelaus Asset Management LLC grew its holdings in Range Resources by 4.0% during the 3rd quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company's stock valued at $356,000 after buying an additional 365 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares of the company's stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Range Resources Stock Down 0.2%

Shares of NYSE RRC opened at $41.07 on Friday. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 10.87 and a beta of 0.46. The business has a 50-day moving average of $43.01 and a 200-day moving average of $39.22.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.64% and a net margin of 26.09%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Range Resources's revenue was up 49.8% on a year-over-year basis. Sell-side analysts expect that Range Resources Corporation will post 3.75 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Range Resources's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources's payout ratio is presently 10.58%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RRC. Freedom Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Zacks Research raised Range Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. Citigroup reduced their target price on Range Resources from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Weiss Ratings raised Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Finally, Bank of America lifted their target price on Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. Two investment 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 given a Sell rating to the company. According to MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus target price 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.

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