Range Resources Corporation $RRC Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Range Resources by 1.0% in the fourth quarter, buying 41,078 additional shares and bringing its total to 4.34 million shares worth about $153 million.
• Range Resources reported strong first-quarter results, with EPS of $1.52 beating estimates of $1.25 and revenue of $1.07 billion topping expectations; revenue also rose 49.8% year over year.
• The company announced a quarterly dividend of $0.10 per share, payable June 26, while analysts currently assign the stock an average Hold rating with a consensus target price of $44.00.

Geode Capital Management LLC raised its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,337,001 shares of the oil and gas exploration company's stock after buying an additional 41,078 shares during the period. Geode Capital Management LLC owned about 1.83% of Range Resources worth $152,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RRC. Smartleaf Asset Management LLC lifted its position in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock valued at $38,000 after buying an additional 336 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Range Resources during the fourth quarter valued at approximately $71,000. Clearstead Advisors LLC lifted its position in Range Resources by 439.5% during the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company's stock valued at $79,000 after buying an additional 1,714 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Range Resources by 206.4% during the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company's stock valued at $87,000 after buying an additional 1,550 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its position in Range Resources by 59.5% during the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company's stock valued at $94,000 after buying an additional 1,000 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Up 1.8%

NYSE RRC opened at $40.54 on Friday. The company's fifty day simple moving average is $42.23 and its 200-day simple moving average is $39.36. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31. 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 market cap of $9.55 billion, a P/E ratio of 10.72 and a beta of 0.42.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.27. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. Equities research analysts predict that Range Resources Corporation will post 3.7 EPS for the current fiscal year.

Range Resources Dividend Announcement

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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 12th. Range Resources's payout ratio is 10.58%.

Analyst Ratings Changes

RRC has been the topic of a number of recent research reports. Zacks Research raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. Weiss Ratings cut shares of Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Freedom Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. TD Cowen boosted their target price on shares of Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a research report on Tuesday, March 17th. Finally, Piper Sandler boosted their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.00.

Insider Activity

In related news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company's stock.

Range Resources 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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