Vanguard Personalized Indexing Management LLC Buys 7,768 Shares of Range Resources Corporation $RRC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Range Resources Corporation by 23.6%, acquiring an additional 7,768 shares, bringing its total holdings to 40,657 shares valued at approximately $1.65 million.
• Several institutional investors, including Kopernik Global Investors LLC and Wellington Management Group LLP, have also raised their positions in Range Resources, indicating strong interest in the company's stock.
• Range Resources recently reported an EPS of $0.66, surpassing estimates and generating revenues of $856.28 million, while announcing a quarterly dividend yielding 1.0%.

Vanguard Personalized Indexing Management LLC increased its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 23.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,657 shares of the oil and gas exploration company's stock after acquiring an additional 7,768 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Range Resources were worth $1,654,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kopernik Global Investors LLC raised its holdings in Range Resources by 5.2% during the first quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock worth $113,667,000 after acquiring an additional 140,043 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Range Resources by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company's stock worth $85,899,000 after acquiring an additional 38,648 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in Range Resources by 1.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock worth $57,803,000 after acquiring an additional 25,403 shares in the last quarter. Wellington Management Group LLP raised its holdings in Range Resources by 50.1% during the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company's stock worth $56,103,000 after acquiring an additional 468,841 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in Range Resources by 21.9% during the first quarter. Jefferies Financial Group Inc. now owns 968,759 shares of the oil and gas exploration company's stock worth $38,683,000 after acquiring an additional 173,785 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent analyst reports. Roth Capital downgraded Range Resources from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of Range Resources in a research report on Wednesday, October 8th. Scotiabank set a $46.00 price target on Range Resources and gave the stock a "sector perform" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lowered their price target on Range Resources from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, October 6th. Finally, Piper Sandler lowered their price target on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, Range Resources has an average rating of "Hold" and an average price target of $42.05.

Range Resources Price Performance

Range Resources stock opened at $35.96 on Friday. Range Resources Corporation has a 12 month low of $28.99 and a 12 month high of $43.50. The stock's 50 day moving average is $35.56 and its 200-day moving average is $36.75. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.32 and a beta of 0.51.

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

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio is currently 18.09%.

Range Resources Company 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.

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