Bank Pictet & Cie Europe AG Boosts Stock Holdings in Range Resources Corporation $RRC

Bank Pictet & Cie Europe AG increased its stake in Range Resources Corporation (NYSE:RRC) by 100.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,038,000 shares of the oil and gas exploration company’s stock after acquiring an additional 519,000 shares during the period. Bank Pictet & Cie Europe AG owned approximately 0.44% of Range Resources worth $36,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Foster & Motley Inc. raised its position in Range Resources by 3.0% in the 4th quarter. Foster & Motley Inc. now owns 23,235 shares of the oil and gas exploration company’s stock valued at $819,000 after purchasing an additional 680 shares in the last quarter. One Plus One Wealth Management LLC purchased a new position in shares of Range Resources in the 4th quarter valued at about $297,000. Cox Capital Mgt LLC grew its position in shares of Range Resources by 56.4% during the fourth quarter. Cox Capital Mgt LLC now owns 45,819 shares of the oil and gas exploration company’s stock worth $1,546,000 after buying an additional 16,532 shares in the last quarter. Canoe Financial LP grew its position in shares of Range Resources by 13.1% during the fourth quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company’s stock worth $56,261,000 after buying an additional 182,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $225,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Price Performance

RRC stock opened at $43.54 on Thursday. The business has a 50 day moving average price of $40.27 and a 200 day moving average price of $37.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 0.37 and a beta of 0.51. 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 announced 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 company had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. Equities research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 13th. This represents a $0.40 annualized dividend and a yield of 0.9%. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio (DPR) is 14.60%.

Wall Street Analysts Forecast Growth

RRC has been the topic of several analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $39.00 target price (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Royal Bank Of Canada dropped 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. UBS Group raised their price objective on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Truist Financial started coverage on shares of Range Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $48.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus target price of $43.18.

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.