Neo Ivy Capital Management Invests $2.21 Million in Range Resources Corporation $RRC

Neo Ivy Capital Management bought a new stake in Range Resources Corporation (NYSE:RRC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,652 shares of the oil and gas exploration company’s stock, valued at approximately $2,208,000.

Several other hedge funds also recently modified their holdings of RRC. Hantz Financial Services Inc. grew its holdings in Range Resources by 1,464.6% during the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 703 shares in the last quarter. True Wealth Design LLC lifted its stake in Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 541 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 336 shares in the last quarter. Allworth Financial LP boosted its holdings in Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 731 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Range Resources by 510.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock worth $69,000 after acquiring an additional 1,428 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE RRC opened at $41.57 on Friday. The company has a market capitalization of $9.78 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.38 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. Range Resources Corporation has a 52-week low of $30.32 and a 52-week high of $43.50. The company has a 50-day simple moving average of $36.77 and a 200 day simple moving average of $36.61.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The firm had revenue of $786.89 million during the quarter, compared to the consensus estimate of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company’s revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is presently 13.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RRC shares. TD Cowen upgraded shares of Range Resources to a “hold” rating in a report on Monday, February 9th. Morgan Stanley cut their price target on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Wells Fargo & Company increased their price objective on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Royal Bank Of Canada cut their target price on Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. Finally, Weiss Ratings raised Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.06.

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.