Range Resources Corporation $RRC Shares Acquired by Mizuho Markets Cayman LP

Key Points

• Mizuho Markets Cayman LP boosted its Range Resources stake by 125.6% in the fourth quarter, ending with 336,363 shares valued at about $11.86 million.
• Range Resources reported strong quarterly results, with EPS of $1.52 versus the $1.25 consensus and revenue of $1.07 billion, up nearly 50% year over year.
• The company raised its quarterly dividend to $0.10 per share from $0.09, while analysts currently have a Hold consensus and an average price target of $44.

Mizuho Markets Cayman LP increased its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 125.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 336,363 shares of the oil and gas exploration company's stock after buying an additional 187,246 shares during the period. Range Resources comprises approximately 0.6% of Mizuho Markets Cayman LP's holdings, making the stock its 24th biggest position. Mizuho Markets Cayman LP owned 0.14% of Range Resources worth $11,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company's stock worth $901,021,000 after buying an additional 701,751 shares in the last quarter. Boston Partners grew its stake in shares of Range Resources by 59.3% in the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock worth $445,196,000 after purchasing an additional 4,398,042 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Range Resources by 7.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,291,202 shares of the oil and gas exploration company's stock worth $312,075,000 after purchasing an additional 608,274 shares during the last quarter. UBS Group AG grew its stake 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. Finally, JPMorgan Chase & Co. grew its stake in shares of Range Resources by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,442,223 shares of the oil and gas exploration company's stock worth $129,565,000 after purchasing an additional 157,387 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of Range Resources from $48.00 to $46.00 and set a "hold" rating on the stock in a research report on Thursday, April 9th. Freedom Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. Barclays lifted their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Piper Sandler boosted their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Range Resources from $43.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $44.00.

Range Resources Price Performance

NYSE RRC opened at $41.07 on Friday. 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 company has a fifty day simple moving average of $43.01 and a 200 day simple moving average of $39.22. The company has a market cap of $9.68 billion, a P/E ratio of 10.87 and a beta of 0.46. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.96 EPS. On average, sell-side analysts predict that Range Resources Corporation will post 3.75 EPS for the current year.

Range Resources Increases Dividend

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

Insider Transactions at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the company'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 sale, the director owned 28,668 shares of the company's stock, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

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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