Anchyra Partners LLC Takes Position in Range Resources Corporation $RRC

Anchyra Partners LLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,942 shares of the oil and gas exploration company’s stock, valued at approximately $527,000.

Several other large investors have also recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its position in shares of Range Resources by 5.5% in the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after buying an additional 282 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Range Resources by 2.5% during the 3rd 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 last quarter. Confluence Wealth Services Inc. grew its position in shares of Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 312 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 336 shares during the period. Finally, Seelaus Asset Management LLC raised its stake in 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 during the period. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on RRC shares. Stephens decreased their target price on Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Morgan Stanley dropped their price target on Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Citigroup cut their price target on Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, Bank of America upped their price objective on Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.41.

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Range Resources Price Performance

NYSE RRC opened at $42.24 on Tuesday. The company has a 50-day moving average price of $42.41 and a two-hundred day moving average price of $38.58. Range Resources Corporation has a 52 week low of $32.60 and a 52 week high of $48.31. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 0.78 and a beta of 0.51. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. Analysts forecast that Range Resources Corporation will post 3.65 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.10 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Range Resources’s payout ratio is presently 10.58%.

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.