VELA Investment Management LLC Has $2.35 Million Stake in Range Resources Corporation $RRC

Key Points

• VELA Investment Management LLC cut its stake in Range Resources by 28.9% in Q4, selling 26,976 shares and finishing the quarter with 66,496 shares worth $2.345 million.
• Range Resources posted a strong quarter with EPS of $1.52 (vs. $1.25 est.) and revenue of $1.07 billion, up 49.8% year‑over‑year, and analysts expect full‑year EPS of 3.65.
• Institutional investors own 98.93% of the company, and several large firms materially increased positions in recent quarters, including Boston Partners (~11.82M shares, ~$445M), AQR and UBS (~3.59M shares, ~$126.5M for UBS).

VELA Investment Management LLC decreased its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,496 shares of the oil and gas exploration company's stock after selling 26,976 shares during the quarter. VELA Investment Management LLC's holdings in Range Resources were worth $2,345,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RRC. Boston Partners grew its position in shares of Range Resources by 59.3% during the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock worth $445,196,000 after buying an additional 4,398,042 shares during the period. AQR Capital Management LLC grew its position in shares of Range Resources by 517.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock worth $91,852,000 after buying an additional 2,045,165 shares during the period. Holocene Advisors LP acquired a new stake in shares of Range Resources during the 3rd quarter worth approximately $66,560,000. UBS Group AG grew its position in shares of Range Resources by 66.3% during the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after buying an additional 1,430,477 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $37,820,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Down 2.0%

Shares of NYSE RRC opened at $42.62 on Friday. The stock has a market cap of $10.04 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.78 and a beta of 0.46. The firm has a 50 day moving average price of $42.74 and a 200 day moving average price of $38.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business's revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. Analysts expect that Range Resources Corporation will post 3.65 EPS for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from Range Resources's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Range Resources's payout ratio is presently 10.58%.

Insiders Place Their Bets

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director owned 28,668 shares of the company's stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Truist Financial decreased their price objective on shares of Range Resources from $48.00 to $46.00 and set a "hold" rating for the company in a report on Thursday, April 9th. Zacks Research upgraded shares of Range Resources from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 18th. Citigroup decreased their price objective on shares of Range Resources from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Finally, Freedom Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. One equities 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 given a Sell rating to the stock. According to MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus price target of $43.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.