WINTON GROUP Ltd Has $1.40 Million Stock Position in Range Resources Corporation $RRC

Key Points

• WINTON GROUP Ltd cut its Range Resources stake by 72.8% in the fourth quarter, selling 106,545 shares and leaving it with 39,804 shares valued at about $1.4 million.
• Analyst sentiment remains cautious overall: Range Resources has a Hold consensus rating with an average price target of $44, even after several firms raised their targets and one upgraded the stock to strong buy.
• The company recently posted better-than-expected quarterly results, with EPS of $1.52 versus $1.25 expected and revenue up 49.8% year over year, and it also announced a quarterly dividend of $0.10 per share.

WINTON GROUP Ltd lowered its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 72.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,804 shares of the oil and gas exploration company's stock after selling 106,545 shares during the quarter. WINTON GROUP Ltd's holdings in Range Resources were worth $1,403,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 336 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Range Resources in the fourth quarter worth $57,000. Basepoint Wealth LLC bought a new position in shares of Range Resources in the fourth quarter worth $61,000. International Assets Investment Management LLC bought a new position in shares of Range Resources in the fourth quarter worth $71,000. Finally, Clearstead Advisors LLC grew its position in Range Resources by 439.5% in the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company's stock valued at $79,000 after acquiring an additional 1,714 shares during 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. Barclays lifted their target price on Range Resources from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Monday, March 16th. Wells Fargo & Company upped their target price on Range Resources from $43.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 26th. Freedom Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. Bank of America upped their price target on Range Resources from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Tuesday, April 21st. Finally, TD Cowen upped their price target on Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $44.00.

Insiders Place Their Bets

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares of the company's stock, valued at $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.

Range Resources Stock Up 0.1%

Range Resources stock opened at $39.12 on Tuesday. The firm has a 50 day simple moving average of $41.92 and a 200 day simple moving average of $39.37. 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 Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 10.35 and a beta of 0.42.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.27. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The business's revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. On average, analysts predict that Range Resources Corporation will post 3.7 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is currently 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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