Range Resources Corporation $RRC Stock Position Cut by CWA Asset Management Group LLC

CWA Asset Management Group LLC decreased its stake in shares of Range Resources Corporation (NYSE:RRC) by 96.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,395 shares of the oil and gas exploration company’s stock after selling 376,174 shares during the period. CWA Asset Management Group LLC’s holdings in Range Resources were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after acquiring an additional 4,398,042 shares in the last quarter. Invesco Ltd. raised its holdings in Range Resources by 230.1% during the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after purchasing an additional 3,336,299 shares in the last quarter. AQR Capital Management LLC lifted its position in Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the period. Holocene Advisors LP acquired a new stake in Range Resources in the third quarter worth approximately $66,560,000. Finally, UBS Group AG boosted its stake in Range Resources by 122.0% during the 3rd quarter. UBS Group AG now owns 2,158,063 shares of the oil and gas exploration company’s stock valued at $81,229,000 after purchasing an additional 1,185,793 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Performance

Shares of NYSE RRC opened at $45.97 on Wednesday. The stock’s fifty day simple moving average is $38.89 and its 200 day simple moving average is $37.45. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.41 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. Range Resources Corporation has a 52-week low of $30.32 and a 52-week high of $46.19.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The business had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.Range Resources’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. As a group, sell-side analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.10 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio is 14.60%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RRC. Royal Bank Of Canada lowered their price target on Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 target price (down from $44.00) on shares of Range Resources in a research note on Monday, December 8th. Mizuho lifted their target price on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Finally, TD Cowen upped their price target on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.76.

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.