Range Resources Corporation $RRC Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group sharply cut its Range Resources stake by 93% in the fourth quarter, selling 908,009 shares and leaving it with 68,617 shares worth about $2.42 million.
• Range Resources reported better-than-expected first-quarter earnings, posting $1.52 per share versus the $1.25 estimate, while revenue rose 49.8% year over year to $1.07 billion.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with an average price target of $44, even as a few firms recently adjusted targets and one upgraded the stock to strong-buy.

Jefferies Financial Group Inc. decreased its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 93.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,617 shares of the oil and gas exploration company's stock after selling 908,009 shares during the period. Jefferies Financial Group Inc.'s holdings in Range Resources were worth $2,419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Range Resources by 2.8% during the fourth 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 during the period. Boston Partners grew its stake in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock worth $445,196,000 after buying an additional 4,398,042 shares during the period. Dimensional Fund Advisors LP grew its stake in Range Resources by 7.9% during the third 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 buying an additional 608,274 shares during the period. UBS Group AG grew its stake in Range Resources by 66.3% during the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after buying an additional 1,430,477 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Range Resources by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,442,223 shares of the oil and gas exploration company's stock worth $129,565,000 after buying an additional 157,387 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

RRC has been the subject of several research reports. Stephens decreased their price objective on shares of Range Resources from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Citigroup decreased their price objective on shares of Range Resources from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Tuesday, April 14th. Piper Sandler boosted their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. TD Cowen boosted their price objective on shares of Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Tuesday, March 17th. Finally, Freedom Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 24th. Two research 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $44.00.

Range Resources Price Performance

Shares of RRC stock opened at $40.03 on Wednesday. The company has a market capitalization of $9.43 billion, a PE ratio of 10.59 and a beta of 0.46. The firm has a fifty day simple moving average of $42.91 and a 200-day simple moving average of $39.28. 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 Corporation has a twelve month low of $32.60 and a twelve month high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating 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%. The business'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 earnings per share. Equities research analysts anticipate that Range Resources Corporation will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the company's 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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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