UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 104,096 Shares of Range Resources Corporation $RRC

Key Points

• UBS Asset Management increased its Range Resources stake by 23.4%, adding 104,096 shares to own 549,315 shares valued at approximately $20.4 million. Institutional investors collectively own 98.93% of the company.
• Range Resources exceeded quarterly earnings expectations, reporting $0.79 EPS versus the $0.66 consensus and revenue of $759.6 million, though revenue declined 2.7% year over year.
• Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and a $43.75 price target. The company also declared a quarterly dividend of $0.10 per share, representing a 1.0% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 23.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 549,315 shares of the oil and gas exploration company's stock after purchasing an additional 104,096 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Range Resources worth $20,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Range Resources by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company's stock valued at $975,311,000 after acquiring an additional 326,748 shares during the period. BlackRock Inc. purchased a new stake in shares of Range Resources during the second quarter valued at approximately $868,085,000. Boston Partners grew its holdings in shares of Range Resources by 14.0% in the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company's stock worth $474,585,000 after purchasing an additional 1,650,258 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Range Resources by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company's stock worth $415,354,000 after buying an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC raised its holdings in Range Resources by 18.5% during the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company's stock valued at $184,724,000 after buying an additional 818,295 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Reginal Spiller sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RRC. Truist Financial cut their price target on shares of Range Resources from $46.00 to $43.00 and set a "hold" rating on the stock in a report on Friday, July 10th. Zacks Research raised Range Resources from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 19th. Morgan Stanley reduced their price target on Range Resources from $44.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 19th. Raymond James Financial set a $45.00 price objective on Range Resources in a report on Monday, July 27th. Finally, Weiss Ratings lowered Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Range Resources presently has an average rating of "Hold" and an average price target of $43.75.

Range Resources Trading Down 1.0%

Shares of RRC opened at $41.96 on Friday. The firm's 50-day moving average price is $39.10 and its 200-day moving average price is $40.45. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 11.59 and a beta of 0.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 1-year low of $32.68 and a 1-year high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same period in the prior year, the firm earned $0.66 earnings per share. Range Resources's revenue was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources's dividend payout ratio is currently 11.05%.

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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