Range Resources Corporation $RRC Stock Holdings Lowered by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd cut its Range Resources stake by 86.5% in the first quarter, leaving it with 25,601 shares worth about $1.16 million.
• Range Resources reported strong quarterly results, with EPS of $1.52 topping estimates of $1.25 and revenue rising 49.8% year over year to $1.07 billion.
• Despite the earnings beat, analysts remain cautious overall: the stock has a consensus Hold rating and an average price target of $43.00, while shares recently traded down to $35.47.

Y Intercept Hong Kong Ltd lowered its position in Range Resources Corporation (NYSE:RRC - Free Report) by 86.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,601 shares of the oil and gas exploration company's stock after selling 163,758 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Range Resources were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC raised its stake in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company's stock valued at $45,000 after acquiring an additional 276 shares in the last quarter. UMB Bank n.a. grew its position in Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company's stock valued at $86,000 after buying an additional 279 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company's stock valued at $360,000 after buying an additional 312 shares during the period. Harbor Investment Advisory LLC raised its position in shares of Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company's stock worth $1,745,000 after buying an additional 330 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of Range Resources by 4.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,165 shares of the oil and gas exploration company's stock worth $369,000 after acquiring an additional 332 shares during the period. 98.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial dropped their target price on Range Resources from $46.00 to $43.00 and set a "hold" rating on the stock in a report on Friday. Freedom Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. Stephens lowered their price objective on shares of Range Resources from $53.00 to $52.00 and set an "overweight" rating on the stock in a research note on Friday. Bank of America increased their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Finally, Zacks Research cut shares of Range Resources from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 9th. One 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. According to data from MarketBeat, Range Resources has a consensus rating of "Hold" and a consensus price target of $43.00.

Range Resources Trading Down 3.4%

Shares of RRC traded down $1.26 during midday trading on Friday, hitting $35.47. The stock had a trading volume of 2,869,062 shares, compared to its average volume of 3,134,867. Range Resources Corporation has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The business has a 50-day simple moving average of $39.11 and a two-hundred day simple moving average of $39.29. The firm has a market cap of $8.36 billion, a P/E ratio of 9.38 and a beta of 0.41. 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 (NYSE:RRC - Get Free Report) last released 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 analysts' consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm's revenue was up 49.8% compared to the same quarter last year. As a group, equities analysts forecast that Range Resources Corporation will post 3.5 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources's dividend payout ratio (DPR) is 10.58%.

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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