Kopernik Global Investors LLC Has $113.67 Million Stock Holdings in Range Resources Corporation $RRC

Key Points

• Kopernik Global Investors LLC increased its stake in Range Resources Corporation by 5.2%, owning approximately 2.85 million shares, making it the largest position in its portfolio worth about $113.67 million.
• Institutional investors currently own 98.93% of Range Resources' stock, with significant increases in holdings from several firms, including Fuller & Thaler Asset Management Inc. which grew its position by 71.3%.
• Range Resources reported an EPS of $0.66 for the last quarter, beating analyst expectations, and declared a quarterly dividend of $0.09 per share, reflecting an annual yield of 1.1%.

Kopernik Global Investors LLC grew its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,846,663 shares of the oil and gas exploration company's stock after buying an additional 140,043 shares during the period. Range Resources makes up 11.8% of Kopernik Global Investors LLC's portfolio, making the stock its biggest position. Kopernik Global Investors LLC owned approximately 1.19% of Range Resources worth $113,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Range Resources during the 1st quarter valued at about $33,000. Bessemer Group Inc. lifted its holdings in shares of Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Range Resources during the 1st quarter valued at about $39,000. Fifth Third Bancorp raised its position in Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after buying an additional 355 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Range Resources by 124.9% in the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after buying an additional 1,434 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of NYSE:RRC traded up $0.1370 during trading on Friday, reaching $33.3270. 2,148,133 shares of the company traded hands, compared to its average volume of 2,287,389. The company's 50 day moving average is $37.35 and its two-hundred day moving average is $37.43. The firm has a market capitalization of $7.94 billion, a PE ratio of 16.75, a PEG ratio of 0.27 and a beta of 0.60. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 52 week low of $27.55 and a 52 week high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same period in the prior year, the company posted $0.46 EPS. As a group, sell-side analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is currently 18.09%.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the sale, the director directly owned 13,663 shares in the company, valued at $548,706.08. This represents a 23.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RRC shares. Mizuho lifted their target price on Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 price objective on shares of Range Resources in a report on Tuesday, July 15th. Bank of America lifted their target price on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Piper Sandler reduced their target price on shares of Range Resources from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Finally, Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $42.75.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.