Landscape Capital Management L.L.C. Takes Position in Range Resources Corporation $RRC

Landscape Capital Management L.L.C. bought a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 49,853 shares of the oil and gas exploration company’s stock, valued at approximately $1,854,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Range Resources in the 2nd quarter worth about $26,000. Los Angeles Capital Management LLC acquired a new stake in Range Resources during the 4th quarter worth approximately $34,000. Root Financial Partners LLC increased its position in Range Resources by 37.8% during the 1st 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 in the last quarter. Trust Co. of Vermont purchased a new position in Range Resources in the second quarter valued at approximately $45,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in Range Resources during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RRC. Morgan Stanley cut their target price on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Stephens raised their price objective on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. UBS Group reaffirmed a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. Susquehanna lowered their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company dropped their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Stock Performance

Range Resources stock opened at $41.13 on Friday. Range Resources Corporation has a 12-month low of $32.68 and a 12-month high of $48.31. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 11.36 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s fifty day moving average price is $38.10 and its 200 day moving average price is $40.06.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. On average, research analysts forecast that Range Resources Corporation will post 3.59 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.10 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources’s payout ratio is 11.05%.

Insider Buying and Selling

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.