First Trust Advisors LP Acquires 900,869 Shares of Range Resources Corporation $RRC

First Trust Advisors LP grew its holdings in Range Resources Corporation (NYSE:RRC) by 126.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,614,502 shares of the oil and gas exploration company’s stock after purchasing an additional 900,869 shares during the quarter. First Trust Advisors LP owned about 0.69% of Range Resources worth $72,943,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RRC. Price T Rowe Associates Inc. MD raised its holdings in shares of Range Resources by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock valued at $975,311,000 after buying an additional 326,748 shares during the last quarter. Vanguard Group Inc. lifted its position in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after buying an additional 701,751 shares in the last quarter. Boston Partners increased its position in Range Resources by 14.0% in the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock valued at $474,585,000 after acquiring an additional 1,650,258 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Range Resources by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after acquiring an additional 227,711 shares during the last quarter. Finally, Kopernik Global Investors LLC raised its stake in shares of Range Resources by 18.5% in the fourth quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after acquiring an additional 818,295 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $38.97 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The stock has a market capitalization of $9.11 billion, a P/E ratio of 10.77 and a beta of 0.41. The business has a 50-day moving average price of $38.23 and a two-hundred day moving average price of $39.42.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. During the same quarter last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio is currently 11.05%.

Analysts Set New Price Targets

RRC has been the topic of a number of research reports. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Weiss Ratings cut shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday. The Goldman Sachs Group dropped their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Stephens upped their price objective on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America increased 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus price target of $43.12.

About Range Resources

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.