31,507 Shares in Range Resources Corporation $RRC Purchased by Abbington Investment Group

Abbington Investment Group bought a new stake in shares of Range Resources Corporation (NYSE:RRC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 31,507 shares of the oil and gas exploration company’s stock, valued at approximately $1,186,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Laffer Tengler Investments Inc. bought a new position in Range Resources during the second quarter worth $370,000. Farther Finance Advisors LLC grew its position in Range Resources by 116.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,094 shares of the oil and gas exploration company’s stock worth $167,000 after purchasing an additional 2,199 shares during the last quarter. CWA Asset Management Group LLC grew its position in Range Resources by 43.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock worth $14,626,000 after purchasing an additional 117,722 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Range Resources by 12.1% during the 3rd quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock worth $20,299,000 after purchasing an additional 58,335 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Range Resources by 246.1% during the first quarter. Voya Investment Management LLC now owns 135,996 shares of the oil and gas exploration company’s stock valued at $5,430,000 after buying an additional 96,701 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RRC has been the topic of a number of recent research reports. Raymond James Financial decreased their target price on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. UBS Group raised their price objective on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Wells Fargo & Company raised Range Resources to a “strong-buy” rating in a report on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. Finally, Morgan Stanley cut their target price on Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.06.

Range Resources Trading Down 2.2%

Shares of RRC opened at $33.91 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.03 billion, a PE ratio of 14.25, a PEG ratio of 0.23 and a beta of 0.51. Range Resources Corporation has a 1 year low of $30.32 and a 1 year high of $43.50. The stock has a 50 day simple moving average of $36.90 and a 200-day simple moving average of $36.60.

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

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. Range Resources’s dividend payout ratio 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.