Range Resources Corporation $RRC Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its stake in shares of Range Resources Corporation (NYSE:RRC) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,167 shares of the oil and gas exploration company’s stock after selling 37,649 shares during the period. Phocas Financial Corp. owned about 0.05% of Range Resources worth $4,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 541 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 last quarter. Clearstead Advisors LLC raised its stake in Range Resources by 439.5% during the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 1,714 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Range Resources by 206.4% during the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock valued at $87,000 after buying an additional 1,550 shares in the last quarter. Finally, Quent Capital LLC bought a new position in Range Resources during the 3rd quarter worth approximately $96,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.2%

RRC stock opened at $43.35 on Monday. The stock has a market cap of $10.21 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. The firm’s 50-day simple moving average is $40.55 and its 200 day simple moving average is $38.03. Range Resources Corporation has a fifty-two week low of $30.32 and a fifty-two week high of $48.31. 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 (NYSE:RRC) last posted its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. During the same period in the previous year, the business posted $0.68 EPS. Range Resources’s revenue was up 30.9% on a year-over-year basis. As a group, sell-side analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Range Resources’s dividend payout ratio is currently 14.60%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Piper Sandler raised their price objective on Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Mizuho lifted their price objective on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Bank of America reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Finally, Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.18.

Range Resources 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.