Range Resources Corporation $RRC Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its Q4 holding in Range Resources by 2.8% to 25,553,637 shares, owning 10.78% of the company worth roughly $901 million.
• Quarterly results beat expectations: Range Resources reported $1.52 EPS vs. $1.25 expected and $1.07 billion revenue (up 49.8% y/y), with analysts forecasting about $3.65 EPS for the fiscal year.
• Dividend and analyst stance: the company raised its quarterly dividend to $0.10 (annualized $0.40, 0.9% yield) and holds a consensus "Hold" rating with a $43.41 price target from analysts.

Vanguard Group Inc. raised its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 25,553,637 shares of the oil and gas exploration company's stock after acquiring an additional 701,751 shares during the period. Vanguard Group Inc. owned 10.78% of Range Resources worth $901,021,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RRC. Boston Partners raised its holdings in 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 valued at $445,196,000 after acquiring an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Range Resources by 517.6% during 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 buying an additional 2,045,165 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Range Resources during the 3rd quarter worth $66,560,000. UBS Group AG increased its holdings in shares of Range Resources by 122.0% during the 3rd quarter. UBS Group AG now owns 2,158,063 shares of the oil and gas exploration company's stock worth $81,229,000 after buying an additional 1,185,793 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Range Resources during the 4th quarter worth $37,820,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Down 2.0%

Shares of NYSE RRC opened at $42.62 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 market cap of $10.04 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.78 and a beta of 0.46. 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 stock has a fifty day moving average price of $42.74 and a 200 day moving average price of $38.71.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same period in the prior year, the firm earned $0.96 EPS. The firm's quarterly revenue was up 49.8% compared to the same quarter last year. Research analysts anticipate that Range Resources Corporation will post 3.65 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.40 annualized dividend and a yield of 0.9%. This is an increase from Range Resources's previous quarterly dividend of $0.09. Range Resources's payout ratio is currently 10.58%.

Analysts Set New Price Targets

A number of analysts have recently commented on RRC shares. Weiss Ratings upgraded Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. TD Cowen upped their price objective on Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, March 17th. Wells Fargo & Company upped their price objective on Range Resources from $43.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. Truist Financial dropped their price objective on Range Resources from $48.00 to $46.00 and set a "hold" rating for the company in a report on Thursday, April 9th. Finally, Piper Sandler upped their price objective on Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.41.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.