Range Resources Corporation $RRC Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Range Resources Corporation (NYSE:RRC) by 70.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,616 shares of the oil and gas exploration company’s stock after buying an additional 40,038 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Range Resources were worth $3,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Range Resources by 4.7% during the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after purchasing an additional 270 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Range Resources by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock valued at $2,981,000 after buying an additional 299 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Range Resources by 3.1% in the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after buying an additional 315 shares during the period. Evergreen Capital Management LLC increased its position in shares of Range Resources by 4.8% in the first quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company’s stock worth $308,000 after acquiring an additional 351 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its position in shares of Range Resources by 1.1% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 37,838 shares of the oil and gas exploration company’s stock valued at $1,539,000 after acquiring an additional 406 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $34.49 on Friday. Range Resources Corporation has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The stock’s 50-day moving average is $37.29 and its two-hundred day moving average is $37.09. 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 firm has a market cap of $8.17 billion, a P/E ratio of 14.49, a PEG ratio of 0.26 and a beta of 0.47.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The business had revenue of $655.30 million during the quarter, compared to analysts’ expectations of $721.22 million. During the same quarter in the previous year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 12th. Range Resources’s payout ratio is currently 15.13%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RRC. Morgan Stanley lowered their price objective on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Piper Sandler reduced their price objective on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Citigroup decreased their price objective on Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Susquehanna dropped their target price on Range Resources to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Finally, Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.05.

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.