Empowered Funds LLC Has $14.24 Million Stake in Range Resources Corporation $RRC

Empowered Funds LLC increased its position in shares of Range Resources Corporation (NYSE:RRC) by 258.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 315,093 shares of the oil and gas exploration company’s stock after acquiring an additional 227,279 shares during the period. Empowered Funds LLC’s holdings in Range Resources were worth $14,236,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Range Resources by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after purchasing an additional 8,816 shares during the last quarter. Focus Partners Wealth acquired a new stake in Range Resources during the 1st quarter worth approximately $285,000. EverSource Wealth Advisors LLC boosted its position in Range Resources by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after buying an additional 1,139 shares during the period. California Public Employees Retirement System grew its holdings in Range Resources by 8.0% during the 2nd quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock worth $16,701,000 after acquiring an additional 30,481 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Range Resources by 22.8% during the 2nd quarter. Sei Investments Co. now owns 256,691 shares of the oil and gas exploration company’s stock worth $10,440,000 after acquiring an additional 47,614 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Freedom Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Morgan Stanley reduced their price objective on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, June 29th. Wells Fargo & Company lowered their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Bank of America lifted their target price on Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Finally, UBS Group reduced their price target on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.35.

Range Resources Price Performance

Shares of NYSE RRC opened at $39.97 on Thursday. The company has a market capitalization of $9.34 billion, a PE ratio of 11.04 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The firm has a fifty day simple moving average of $38.00 and a 200 day simple moving average of $39.55.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.10 per share. 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 dividend payout ratio is presently 11.05%.

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.