Vanguard Group Inc. Increases Position in Range Resources Corporation $RRC

Vanguard Group Inc. increased its holdings in Range Resources Corporation (NYSE:RRC) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,851,886 shares of the oil and gas exploration company’s stock after purchasing an additional 799,574 shares during the quarter. Vanguard Group Inc. owned 0.10% of Range Resources worth $935,425,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Profund Advisors LLC raised its stake in shares of Range Resources by 5.5% during the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after buying an additional 282 shares during the period. ProShare Advisors LLC increased its holdings in Range Resources by 3.1% in the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after acquiring an additional 315 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Range Resources by 49.6% during 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 acquiring an additional 336 shares during the period. Seelaus Asset Management LLC raised its position in Range Resources by 4.0% during the third quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock worth $356,000 after acquiring an additional 365 shares during the period. Finally, Portside Wealth Group LLC lifted its holdings in Range Resources by 5.5% during the third quarter. Portside Wealth Group LLC now owns 7,706 shares of the oil and gas exploration company’s stock valued at $290,000 after purchasing an additional 405 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Up 1.5%

Shares of Range Resources stock opened at $39.71 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $35.69 and its 200-day simple moving average is $36.20. The stock has a market cap of $9.41 billion, a P/E ratio of 16.69, a P/E/G ratio of 0.36 and a beta of 0.58. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50.

Range Resources Dividend Announcement

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 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 payout ratio is 15.13%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Bank of America reissued a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Wells Fargo & Company set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a research report on Monday, January 12th. UBS Group boosted their price target on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.12.

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.