VELA Investment Management LLC Has $2.67 Million Stock Holdings in Range Resources Corporation $RRC

VELA Investment Management LLC boosted its stake in Range Resources Corporation (NYSE:RRC) by 22.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,716 shares of the oil and gas exploration company’s stock after purchasing an additional 13,362 shares during the period. VELA Investment Management LLC’s holdings in Range Resources were worth $2,667,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Seelaus Asset Management LLC boosted its position in Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock worth $440,000 after purchasing an additional 250 shares during the period. Root Financial Partners LLC grew 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 in the last quarter. UMB Bank n.a. grew its position in Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 279 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Range Resources by 27.3% during the second quarter. Toth Financial Advisory Corp now owns 1,400 shares of the oil and gas exploration company’s stock worth $52,000 after purchasing an additional 300 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Range Resources by 0.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock worth $1,745,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RRC has been the topic of several recent research reports. UBS Group reiterated a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. Barclays cut their price target on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Susquehanna reduced their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. The Goldman Sachs Group reduced their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Stock Down 0.1%

Shares of Range Resources stock opened at $41.96 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50-day moving average of $39.21 and a 200 day moving average of $40.51. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 11.59 and a beta of 0.43. Range Resources Corporation has a 1 year low of $32.68 and a 1 year high of $48.31.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million for 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%.The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Range Resources Corporation will post 3.62 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, September 11th. Range Resources’s dividend payout ratio (DPR) 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.