Canoe Financial LP Acquires 182,000 Shares of Range Resources Corporation $RRC

Canoe Financial LP boosted its holdings in shares of Range Resources Corporation (NYSE:RRC) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,573,309 shares of the oil and gas exploration company’s stock after acquiring an additional 182,000 shares during the period. Canoe Financial LP owned 0.66% of Range Resources worth $56,261,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Profund Advisors LLC increased its stake in Range Resources by 5.5% during the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 282 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 302 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 336 shares during the period. Seelaus Asset Management LLC increased its position in shares of Range Resources by 4.0% during the third quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock worth $356,000 after acquiring an additional 365 shares in the last quarter. Finally, AMG National Trust Bank raised its holdings in shares of Range Resources by 0.9% during the third quarter. AMG National Trust Bank now owns 41,986 shares of the oil and gas exploration company’s stock worth $1,580,000 after acquiring an additional 386 shares during the period. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $47.62 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50-day moving average of $39.68 and a 200-day moving average of $37.70. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.44 and a beta of 0.57. Range Resources Corporation has a fifty-two week low of $30.32 and a fifty-two week high of $48.31.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict 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 was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.10 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, March 13th. Range Resources’s dividend payout ratio (DPR) is 14.60%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of 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. Weiss Ratings raised Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. UBS Group increased their price objective on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $39.00 target price (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Finally, Citigroup boosted their target price on Range Resources from $36.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Four 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. According to MarketBeat, Range Resources currently has an average rating of “Hold” and an average target price 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.