Dimensional Fund Advisors LP Buys 227,711 Shares of Range Resources Corporation $RRC

Dimensional Fund Advisors LP raised its stake in shares of Range Resources Corporation (NYSE:RRC) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,192,740 shares of the oil and gas exploration company’s stock after buying an additional 227,711 shares during the quarter. Dimensional Fund Advisors LP owned about 3.90% of Range Resources worth $415,354,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RRC. Seelaus Asset Management LLC increased its holdings in shares of Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after acquiring an additional 250 shares in the last quarter. Root Financial Partners LLC boosted its stake in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares in the last quarter. UMB Bank n.a. boosted its stake in Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after purchasing an additional 279 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock worth $360,000 after purchasing an additional 312 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its position in Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after purchasing an additional 330 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on RRC. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Truist Financial decreased their price objective on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. Bank of America upped their price objective on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Finally, UBS Group cut their target price on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.12.

Range Resources Price Performance

RRC opened at $37.70 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $8.88 billion, a P/E ratio of 9.97 and a beta of 0.41. The company’s 50-day simple moving average is $38.40 and its two-hundred day simple moving average is $39.38. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. During the same quarter last year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. As a group, analysts predict that Range Resources Corporation will post 3.46 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Range Resources’s dividend payout ratio is 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.