Oppenheimer & Co. Inc. Raises Stock Holdings in Range Resources Corporation $RRC

Oppenheimer & Co. Inc. grew its stake in shares of Range Resources Corporation (NYSE:RRC) by 753.5% during the third quarter, Holdings Channel reports. The institutional investor owned 90,179 shares of the oil and gas exploration company’s stock after buying an additional 79,613 shares during the period. Oppenheimer & Co. Inc.’s holdings in Range Resources were worth $3,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RRC. Hantz Financial Services Inc. increased its holdings in Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 703 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Range Resources by 116.3% in the third 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 during the period. Smartleaf Asset Management LLC increased its stake 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 worth $38,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Range Resources in the second quarter worth $45,000. Finally, Allworth Financial LP raised its holdings in Range Resources by 196.5% during 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 acquiring an additional 731 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of research reports. Wells Fargo & Company set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Morgan Stanley decreased their price target on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Bank of America reissued a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Range Resources in a report on Friday, January 16th. Barclays raised Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Finally, Susquehanna decreased their target price on Range Resources to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.12.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $36.39 on Thursday. The firm has a fifty day simple moving average of $35.68 and a two-hundred day simple moving average of $36.09. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $8.62 billion, a P/E ratio of 15.29, a PEG ratio of 0.33 and a beta of 0.58.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were given a $0.09 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 15.13%.

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.