Algert Global LLC Increases Stock Holdings in Range Resources Corporation $RRC

Algert Global LLC grew its stake in shares of Range Resources Corporation (NYSE:RRC) by 178.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584,526 shares of the oil and gas exploration company’s stock after purchasing an additional 374,438 shares during the quarter. Range Resources makes up about 0.4% of Algert Global LLC’s holdings, making the stock its 28th biggest position. Algert Global LLC owned 0.25% of Range Resources worth $22,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RRC. CWA Asset Management Group LLC lifted its position in Range Resources by 43.5% in the third quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock valued at $14,626,000 after acquiring an additional 117,722 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of Range Resources by 12.1% during the third quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock worth $20,299,000 after purchasing an additional 58,335 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Range Resources by 753.5% during the third quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock worth $3,394,000 after purchasing an additional 79,613 shares during the last quarter. Citigroup Inc. increased its position in shares of Range Resources by 71.0% during the third quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock worth $11,578,000 after purchasing an additional 127,753 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Range Resources by 48.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock valued at $5,086,000 after purchasing an additional 44,004 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RRC shares. Piper Sandler upped their target price on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup lifted their price target on Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Royal Bank Of Canada decreased their price objective on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Barclays upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.13.

Range Resources Trading Up 1.5%

Shares of RRC stock opened at $43.54 on Friday. The business’s 50 day moving average is $37.43 and its two-hundred day moving average is $36.94. Range Resources Corporation has a twelve month low of $30.32 and a twelve month high of $43.65. The company has a market capitalization of $10.25 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 0.40 and a beta of 0.57. 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 released its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Range Resources’s payout ratio is presently 13.14%.

Range Resources Company 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.