108,960 Shares in Range Resources Corporation $RRC Acquired by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in Range Resources Corporation (NYSE:RRC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 108,960 shares of the oil and gas exploration company’s stock, valued at approximately $4,923,000.

Several other institutional investors and hedge funds have also modified their holdings of RRC. Seelaus Asset Management LLC lifted its position in shares of Range Resources by 2.6% during the 1st quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after buying an additional 250 shares in the last quarter. Root Financial Partners LLC raised its position in shares of Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares during the period. UMB Bank n.a. raised its position in shares of Range Resources by 13.0% during the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 279 shares during the period. Confluence Wealth Services Inc. lifted its stake in shares of Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 312 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RRC shares. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings downgraded Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday. Morgan Stanley lowered their price target on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company lowered their target price on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.12.

Range Resources Stock Up 0.0%

Shares of NYSE:RRC opened at $38.97 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a 50-day moving average price of $38.23 and a 200 day moving average price of $39.46. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 10.77 and a beta of 0.41.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a $0.10 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s payout ratio is 11.05%.

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.