BW Gestao de Investimentos Ltda. Invests $5.83 Million in Range Resources Corporation $RRC

BW Gestao de Investimentos Ltda. purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 154,967 shares of the oil and gas exploration company’s stock, valued at approximately $5,833,000. BW Gestao de Investimentos Ltda. owned about 0.07% of Range Resources at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in Range Resources by 116.3% in the 3rd 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 in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 336 shares in the last quarter. Allworth Financial LP grew its position in shares of Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 731 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Range Resources by 510.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock valued at $69,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Range Resources by 439.5% in 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 purchasing an additional 1,714 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of RRC opened at $41.63 on Tuesday. The firm has a 50-day simple moving average of $36.89 and a two-hundred day simple moving average of $36.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. Range Resources Corporation has a 1-year low of $30.32 and a 1-year high of $43.50. The stock has a market cap of $9.80 billion, a PE ratio of 15.19, a P/E/G ratio of 0.38 and a beta of 0.57.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping 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 analysts’ expectations of $770.92 million. During the same quarter last year, the company posted $0.68 EPS. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. As a group, analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This is an increase from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 13th. Range Resources’s dividend payout ratio (DPR) is 13.14%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RRC. Barclays raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada reduced their price target on Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Citigroup boosted their price target on shares of Range Resources from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. UBS Group upped their price objective on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Weiss Ratings raised shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus price target of $42.06.

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.