Mitsubishi UFJ Trust & Banking Corp Acquires 16,229 Shares of Range Resources Corporation $RRC

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Range Resources Corporation (NYSE:RRC) by 348.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,885 shares of the oil and gas exploration company’s stock after buying an additional 16,229 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Range Resources were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC raised its position in Range Resources by 3.1% during the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock valued at $431,000 after purchasing an additional 315 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Range Resources by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 174,750 shares of the oil and gas exploration company’s stock valued at $7,107,000 after buying an additional 470 shares during the period. Forum Financial Management LP raised its holdings in Range Resources by 6.4% during the 3rd quarter. Forum Financial Management LP now owns 8,594 shares of the oil and gas exploration company’s stock valued at $323,000 after buying an additional 519 shares during the period. True Wealth Design LLC lifted its position in Range Resources by 116.3% in 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 buying an additional 541 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Range Resources by 1,464.6% during the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 703 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Price Performance

NYSE RRC opened at $37.82 on Friday. The company has a market cap of $8.96 billion, a PE ratio of 15.89, a P/E/G ratio of 0.34 and a beta of 0.51. The firm’s 50 day moving average price is $36.10 and its 200-day moving average price is $36.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources Corporation has a 52-week low of $30.32 and a 52-week high of $43.50.

Range Resources Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on RRC shares. UBS Group lifted their price target on shares of Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Piper Sandler cut their target price on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Mizuho raised their price target on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $39.00 price objective (down previously from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Finally, Susquehanna reduced their target price on Range Resources to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.22.

About Range Resources

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.