Moran Wealth Management LLC Raises Holdings in Range Resources Corporation $RRC

Moran Wealth Management LLC increased its stake in shares of Range Resources Corporation (NYSE:RRC) by 68.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,476 shares of the oil and gas exploration company’s stock after purchasing an additional 21,639 shares during the period. Moran Wealth Management LLC’s holdings in Range Resources were worth $1,886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners increased its position in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after buying an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 valued at $91,852,000 after acquiring an additional 2,045,165 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Range Resources in the third quarter valued at $66,560,000. UBS Group AG boosted its stake in shares of Range Resources by 122.0% during the third 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 acquiring an additional 1,185,793 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Range Resources during the fourth quarter valued at $37,820,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the subject of several analyst reports. Citigroup cut their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Morgan Stanley lowered their price target on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Truist Financial cut their price objective on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Finally, Bank of America restated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Range Resources has an average rating of “Hold” and an average target price of $42.76.

Range Resources Stock Performance

Range Resources stock opened at $41.71 on Monday. The stock has a fifty day moving average price of $41.75 and a 200 day moving average price of $38.44. Range Resources Corporation has a 52 week low of $32.08 and a 52 week high of $48.31. The firm has a market capitalization of $9.82 billion, a P/E ratio of 15.22, a PEG ratio of 0.33 and a beta of 0.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted 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. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 30.9% on a year-over-year basis. Equities research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. The ex-dividend date was Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s payout ratio is presently 14.60%.

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.