Envestnet Asset Management Inc. Has $5.09 Million Position in Range Resources Corporation $RRC

Envestnet Asset Management Inc. raised its position in Range Resources Corporation (NYSE:RRC) by 48.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,125 shares of the oil and gas exploration company’s stock after acquiring an additional 44,004 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Range Resources worth $5,086,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in shares of 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 valued at $31,000 after purchasing an additional 703 shares during the period. True Wealth Design LLC boosted its stake in 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 buying an additional 541 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Range Resources during the second quarter worth $45,000. Allworth Financial LP increased its holdings 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 valued at $45,000 after buying an additional 731 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Range Resources by 510.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock valued at $69,000 after buying an additional 1,428 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Range Resources stock opened at $39.71 on Monday. The stock has a 50-day simple moving average of $35.69 and a 200 day simple moving average of $36.20. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 0.36 and a beta of 0.58. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $43.50.

Range Resources Dividend Announcement

The business also recently declared 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. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Range Resources’s dividend payout ratio is 15.13%.

Analyst Upgrades and Downgrades

RRC has been the topic of several recent research reports. Barclays upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 price objective (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Bank of America reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. UBS Group increased their target price on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Mizuho boosted their price target on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $41.12.

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.