Range Resources Corporation $RRC Shares Sold by Horizon Investments LLC

Horizon Investments LLC reduced its position in Range Resources Corporation (NYSE:RRC) by 93.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,456 shares of the oil and gas exploration company’s stock after selling 92,462 shares during the quarter. Horizon Investments LLC’s holdings in Range Resources were worth $228,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Profund Advisors LLC grew its position in Range Resources by 5.5% in the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock valued at $204,000 after acquiring an additional 282 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Range Resources by 2.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after acquiring an additional 302 shares in the last quarter. Confluence Wealth Services Inc. grew its position in Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after acquiring an additional 312 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Range Resources by 49.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 336 shares in the last quarter. Finally, Seelaus Asset Management LLC grew its position in Range Resources by 4.0% in the 3rd quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock valued at $356,000 after acquiring an additional 365 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America lifted their target price on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Stephens dropped their target price on Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Barclays lifted their target price on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Truist Financial dropped their target price on Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Finally, Wells Fargo & Company lifted their target price on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.41.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Range Resources Stock Performance

Shares of Range Resources stock opened at $40.51 on Friday. Range Resources Corporation has a one year low of $32.60 and a one year high of $48.31. The company has a market cap of $9.55 billion, a PE ratio of 10.72, a P/E/G ratio of 0.74 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The business has a 50-day simple moving average of $42.91 and a 200-day simple moving average of $38.84.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same period in the previous year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, equities research analysts forecast that Range Resources Corporation will post 3.69 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.10 per share. This is a boost from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, March 13th. Range Resources’s dividend payout ratio is presently 10.58%.

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.