Landscape Capital Management L.L.C. Acquires Shares of 49,853 Range Resources Corporation $RRC

Landscape Capital Management L.L.C. acquired a new position in shares of Range Resources Corporation (NYSE:RRC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 49,853 shares of the oil and gas exploration company’s stock, valued at approximately $1,854,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Range Resources in the 2nd quarter valued at about $868,085,000. Boston Partners grew its stake in Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after purchasing an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC grew its stake in Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after purchasing an additional 2,045,165 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Range Resources in the second quarter worth about $67,470,000. Finally, UBS Group AG increased its holdings in Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock valued at $126,532,000 after buying an additional 1,430,477 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RRC shares. Truist Financial cut their price objective on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Susquehanna decreased their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Citigroup reiterated a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. Weiss Ratings lowered Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group reduced their price objective on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.75.

Range Resources Stock Performance

Shares of NYSE RRC opened at $41.13 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $38.10 and its two-hundred day moving average price is $40.06. Range Resources Corporation has a 52-week low of $32.68 and a 52-week high of $48.31. The stock has a market capitalization of $9.61 billion, a P/E ratio of 11.36 and a beta of 0.42.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.Range Resources’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, sell-side analysts forecast that Range Resources Corporation will post 3.59 earnings per share for the current year.

Range Resources Dividend Announcement

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

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at $536,840. The trade was a 20.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

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.