JPMorgan Chase & Co. Has $129.57 Million Stock Holdings in Range Resources Corporation $RRC

JPMorgan Chase & Co. grew its stake in Range Resources Corporation (NYSE:RRC) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,442,223 shares of the oil and gas exploration company’s stock after purchasing an additional 157,387 shares during the quarter. JPMorgan Chase & Co. owned about 1.45% of Range Resources worth $129,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners increased its holdings in Range Resources by 6.1% in the second quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company’s stock valued at $301,133,000 after purchasing an additional 425,704 shares during the last quarter. Lingotto Investment Management LLP increased its stake in shares of Range Resources by 2.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company’s stock valued at $291,263,000 after acquiring an additional 138,877 shares during the last quarter. Invesco Ltd. increased its stake in shares of Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock valued at $194,644,000 after acquiring an additional 3,336,299 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Range Resources by 30.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock valued at $120,050,000 after acquiring an additional 689,212 shares during the period. Finally, Bank of America Corp DE boosted its stake in Range Resources by 22.0% during the 2nd quarter. Bank of America Corp DE now owns 2,148,996 shares of the oil and gas exploration company’s stock worth $87,400,000 after acquiring an additional 387,228 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RRC shares. Royal Bank Of Canada lowered their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Wells Fargo & Company set a $43.00 price objective on Range Resources and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Citigroup decreased their target price on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, TD Cowen raised Range Resources to a “hold” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.12.

Range Resources Price Performance

RRC stock opened at $39.71 on Friday. The stock has a 50-day moving average price of $35.69 and a two-hundred day moving average price of $36.19. Range Resources Corporation has a 1 year low of $30.32 and a 1 year high of $43.50. The stock has a market cap of $9.41 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.36 and a beta of 0.58. 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 company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Range Resources’s dividend payout ratio is 15.13%.

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.