Miller Howard Investments Inc. NY Decreases Stock Position in Range Resources Corporation $RRC

Key Points

• Miller Howard Investments cut its stake in Range Resources by 63.9% in Q4, selling 46,338 shares and leaving it with 26,139 shares worth about $922,000, while other institutions largely added positions (including a new $7.05M stake by JGP), with institutional ownership at 98.93%.
• Range Resources beat Q4 expectations with $0.82 EPS vs. $0.69 expected and $786.9M in revenue, raised its quarterly dividend to $0.10 (annual $0.40, ~1.0% yield), and currently holds a consensus analyst rating of Hold with an average target of $42.76.

Miller Howard Investments Inc. NY reduced its position in Range Resources Corporation (NYSE:RRC - Free Report) by 63.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,139 shares of the oil and gas exploration company's stock after selling 46,338 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Range Resources were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. GF Fund Management CO. LTD. increased its position in Range Resources by 7.1% in the fourth quarter. GF Fund Management CO. LTD. now owns 69,406 shares of the oil and gas exploration company's stock worth $2,447,000 after buying an additional 4,583 shares during the last quarter. Moran Wealth Management LLC increased its position in Range Resources by 68.0% in the fourth quarter. Moran Wealth Management LLC now owns 53,476 shares of the oil and gas exploration company's stock worth $1,886,000 after buying an additional 21,639 shares during the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new stake in Range Resources in the fourth quarter worth $7,052,000. Nations Financial Group Inc. IA ADV increased its position in Range Resources by 2.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 32,071 shares of the oil and gas exploration company's stock worth $1,131,000 after buying an additional 636 shares during the last quarter. Finally, Abbington Investment Group increased its position in Range Resources by 17.2% in the fourth quarter. Abbington Investment Group now owns 36,937 shares of the oil and gas exploration company's stock worth $1,302,000 after buying an additional 5,430 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their target price on Range Resources from $46.00 to $44.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 14th. Bank of America reiterated a "neutral" rating and issued a $38.00 price target (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Morgan Stanley reduced their price target on Range Resources from $42.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, January 23rd. Freedom Capital upgraded Range Resources to a "hold" rating in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company lifted their price target on Range Resources from $43.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Four 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.76.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction on 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 sale, the director owned 28,668 shares of the company's stock, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $41.14 on Tuesday. The stock has a market cap of $9.69 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.33 and a beta of 0.51. Range Resources Corporation has a fifty-two week low of $32.08 and a fifty-two week high of $48.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average of $41.85 and a 200-day moving average of $38.46.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.13. The company had revenue of $786.89 million during the quarter, compared to analysts' expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm's quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. Equities research analysts anticipate that Range Resources Corporation will post 3.44 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.10 per share. This is a positive change from Range Resources's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, March 13th. Range Resources's dividend payout ratio is 14.60%.

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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