344,829 Shares in Range Resources Corporation $RRC Bought by Old West Investment Management LLC

Old West Investment Management LLC bought a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 344,829 shares of the oil and gas exploration company’s stock, valued at approximately $12,824,000. Range Resources accounts for about 1.4% of Old West Investment Management LLC’s portfolio, making the stock its 29th biggest position. Old West Investment Management LLC owned about 0.15% of Range Resources at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Seelaus Asset Management LLC boosted its holdings in 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 during the period. Root Financial Partners LLC increased its stake in shares of Range Resources by 37.8% in the first 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 during the period. UMB Bank n.a. lifted its position in shares of Range Resources by 13.0% during 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 during the last quarter. Confluence Wealth Services Inc. lifted 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 worth $360,000 after purchasing an additional 312 shares during the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake 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 period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RRC shares. Stephens raised their target price on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. 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. The Goldman Sachs Group lowered their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Susquehanna dropped their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.35.

Range Resources Price Performance

Shares of RRC stock opened at $40.31 on Monday. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a market capitalization of $9.42 billion, a P/E ratio of 11.14 and a beta of 0.42. The stock has a 50 day moving average of $37.94 and a two-hundred day moving average of $39.97. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.Range Resources’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities analysts expect that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders 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 of this dividend was Friday, June 12th. Range Resources’s payout ratio is 11.05%.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

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.