Range Resources Corporation $RRC Stock Holdings Lessened by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. trimmed its stake in Range Resources by 22.8% in Q4, selling 37,649 shares and ending with 127,167 shares (about $4.48M); institutional investors now own 98.93% of the company.
• Strong quarterly results: Range reported Q4 EPS of $0.82 versus $0.69 expected and revenue of $786.9M (up 30.9% YoY), though the stock was down roughly 2.9% and the company has a $9.58B market cap.
• Dividend and market sentiment: The company raised its quarterly dividend to $0.10 (annualized $0.40, ~1.0% yield), while analysts hold a consensus "Hold" rating with a $42.76 target; Director Brenda Cline sold 7,000 shares at $44.40.

Phocas Financial Corp. trimmed its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 22.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,167 shares of the oil and gas exploration company's stock after selling 37,649 shares during the quarter. Phocas Financial Corp. owned 0.05% of Range Resources worth $4,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 541 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 336 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company's stock worth $79,000 after buying an additional 1,714 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Range Resources by 206.4% in the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company's stock worth $87,000 after buying an additional 1,550 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in Range Resources by 59.5% in the fourth quarter. Toth Financial Advisory Corp now owns 2,680 shares of the oil and gas exploration company's stock worth $94,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Down 2.9%

Shares of NYSE RRC opened at $40.69 on Wednesday. The stock has a market cap of $9.58 billion, a PE ratio of 14.85, a PEG ratio of 0.34 and a beta of 0.51. The business has a fifty day moving average of $41.42 and a two-hundred day moving average of $38.37. Range Resources Corporation has a 52-week low of $32.08 and a 52-week high of $48.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.13. The company had revenue of $786.89 million during the quarter, compared to analysts' expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business's revenue was up 30.9% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. As a group, equities research analysts expect that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.10 per share. This is a boost from Range Resources's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio is currently 14.60%.

Insider Buying and Selling

In related news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RRC shares. Citigroup lowered their price target on Range Resources from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday. Bank of America reissued a "neutral" rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Weiss Ratings raised Range Resources from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, February 27th. Piper Sandler increased their price objective on Range Resources from $41.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Finally, TD Cowen increased their price objective on Range Resources from $40.00 to $45.00 and gave the company a "hold" rating in a research report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $42.76.

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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