Penserra Capital Management LLC Invests $969,000 in Range Resources Corporation $RRC

Penserra Capital Management LLC acquired a new stake in Range Resources Corporation (NYSE:RRC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 25,756 shares of the oil and gas exploration company’s stock, valued at approximately $969,000.

A number of other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Range Resources by 230.1% in the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after purchasing an additional 3,336,299 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Range Resources in the 2nd quarter valued at about $36,590,000. Peconic Partners LLC purchased a new stake in Range Resources during the 2nd quarter valued at about $32,536,000. Qube Research & Technologies Ltd grew its position in Range Resources by 30.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock worth $120,050,000 after acquiring an additional 689,212 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG bought a new position in Range Resources during the 3rd quarter worth approximately $19,535,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup lowered their price objective on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. UBS Group upped their price target on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. restated an “underweight” rating and issued a $39.00 price objective (down previously from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Finally, Bank of America reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.22.

Range Resources Stock Performance

Shares of Range Resources stock opened at $36.60 on Friday. Range Resources Corporation has a 12 month low of $30.32 and a 12 month high of $43.50. The firm has a market capitalization of $8.67 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.34 and a beta of 0.58. The business has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $36.09. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources’s payout ratio is presently 15.13%.

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.