Range Resources Corporation $RRC Shares Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its Range Resources stake by 321.3% in the first quarter, bringing its holdings to 52,114 shares valued at approximately $2.36 million. Institutional investors and hedge funds collectively own 98.93% of RRC’s outstanding shares.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $43.12. Several firms recently lowered their targets, although Stephens raised its target to $53 and maintained an “overweight” rating.
• Range Resources exceeded quarterly earnings expectations, reporting $0.79 EPS versus the $0.66 consensus and $759.6 million in revenue. The company also pays a quarterly dividend of $0.10 per share, equal to a 1.0% annualized yield.

Entropy Technologies LP increased its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 321.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,114 shares of the oil and gas exploration company's stock after buying an additional 39,745 shares during the period. Entropy Technologies LP's holdings in Range Resources were worth $2,355,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Range Resources by 59.3% during the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock valued at $445,196,000 after acquiring an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Range Resources by 517.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the last quarter. UBS Group AG increased its position in shares of Range Resources by 66.3% in the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after purchasing an additional 1,430,477 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Range Resources in the 1st quarter valued at about $64,481,000. Finally, Morgan Stanley raised its stake in shares of Range Resources by 54.1% in the 4th 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 in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on RRC. The Goldman Sachs Group reduced their price target on shares of Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Citigroup reissued a "neutral" rating on shares of Range Resources in a report on Thursday. Morgan Stanley cut their price objective on Range Resources from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, June 29th. Stephens increased their target price on Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, UBS Group decreased their target price on Range Resources from $49.00 to $44.00 and set a "neutral" rating for the company in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $43.12.

Range Resources Stock Up 0.0%

Shares of NYSE:RRC opened at $38.97 on Monday. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 10.77 and a beta of 0.41. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The company's fifty day moving average is $38.23 and its two-hundred day moving average is $39.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same period last year, the firm posted $0.66 EPS. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts anticipate that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is currently 11.05%.

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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