CWA Asset Management Group LLC Acquires 117,722 Shares of Range Resources Corporation $RRC

CWA Asset Management Group LLC boosted its holdings in shares of Range Resources Corporation (NYSE:RRC) by 43.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 388,569 shares of the oil and gas exploration company’s stock after buying an additional 117,722 shares during the quarter. CWA Asset Management Group LLC owned approximately 0.16% of Range Resources worth $14,626,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its holdings in shares of Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares during the period. True Wealth Design LLC grew its stake in shares of Range Resources by 116.3% during the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 541 shares during the last quarter. Barrett & Company Inc. purchased a new position in shares of Range Resources in the 2nd quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Range Resources in the 2nd quarter valued at approximately $45,000. Finally, Allworth Financial LP boosted its stake in Range Resources by 196.5% in the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RRC. JPMorgan Chase & Co. restated an “underweight” rating and set a $39.00 price target (down previously from $44.00) on shares of Range Resources in a research note on Monday, December 8th. Citigroup cut their target price on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Piper Sandler lowered their price target on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Morgan Stanley dropped their price target on Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, Mizuho raised their price objective on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average target price of $42.06.

Range Resources Stock Performance

Shares of RRC stock opened at $35.29 on Monday. Range Resources Corporation has a 52-week low of $30.32 and a 52-week high of $43.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.36 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.23 and a beta of 0.51. The business has a 50-day simple moving average of $37.03 and a 200-day simple moving average of $36.75.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.Range Resources’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, equities analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is presently 15.13%.

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.