Range Resources Corporation $RRC Holdings Raised by SailingStone Capital Partners LLC

Key Points

• SailingStone Capital Partners increased its Range Resources stake by 8.9% in Q4, bringing its holdings to 1,044,665 shares valued at about $36.8 million. The stock now makes up roughly 9.2% of the fund’s portfolio and is its fifth-largest holding.
• Wall Street sentiment remains cautious: analysts currently have a consensus rating of “Hold” on RRC, with an average price target of $44.00. Recent rating changes included downgrades from Zacks Research and a lower target from Citigroup.
• Range Resources reported strong quarterly results, with EPS of $1.52 versus expectations of $1.25 and revenue of $1.07 billion, up 49.8% year over year. The company also announced a quarterly dividend of $0.10 per share, or $0.40 annualized, for a 1.1% yield.

SailingStone Capital Partners LLC raised its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,044,665 shares of the oil and gas exploration company's stock after purchasing an additional 85,325 shares during the quarter. Range Resources accounts for approximately 9.2% of SailingStone Capital Partners LLC's investment portfolio, making the stock its 5th biggest holding. SailingStone Capital Partners LLC owned 0.44% of Range Resources worth $36,835,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RRC. Boston Partners boosted its holdings in Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock valued at $445,196,000 after purchasing an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock valued at $91,852,000 after purchasing an additional 2,045,165 shares during the last quarter. Holocene Advisors LP purchased a new stake in Range Resources in the third quarter valued at $66,560,000. UBS Group AG boosted its holdings in Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock valued at $126,532,000 after purchasing an additional 1,430,477 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Range Resources by 54.1% in the fourth quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company's stock valued at $115,202,000 after purchasing an additional 1,147,304 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on RRC shares. Zacks Research lowered shares of Range Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 9th. Weiss Ratings lowered shares of Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 2nd. Citigroup lowered their price target on shares of Range Resources from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Stephens lowered their target price on shares of Range Resources from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company increased their target price on shares of Range Resources from $43.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $44.00.

Range Resources Trading Up 0.1%

Shares of Range Resources stock opened at $37.48 on Wednesday. The firm has a market capitalization of $8.83 billion, a PE ratio of 9.92 and a beta of 0.42. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The firm's 50-day moving average price is $41.12 and its 200 day moving average price is $39.36. 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 issued its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.27. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. Range Resources's quarterly revenue was up 49.8% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. On average, sell-side analysts predict that Range Resources Corporation will post 3.71 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Range Resources's dividend payout ratio (DPR) is currently 10.58%.

Insiders Place Their Bets

In related news, Director Brenda A. Cline sold 7,000 shares of the firm's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

Range Resources Company 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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