Fisher Asset Management LLC Reduces Holdings in Range Resources Corporation $RRC

Fisher Asset Management LLC lowered its position in Range Resources Corporation (NYSE:RRC) by 5.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 777,074 shares of the oil and gas exploration company’s stock after selling 47,332 shares during the period. Fisher Asset Management LLC’s holdings in Range Resources were worth $29,249,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RRC. Hantz Financial Services Inc. raised its position in shares of Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 703 shares during the last quarter. True Wealth Design LLC grew its stake in Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 541 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Range Resources by 49.6% during 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. Allworth Financial LP lifted its stake in Range Resources by 196.5% in the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 731 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Range Resources by 510.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,708 shares of the oil and gas exploration company’s stock worth $69,000 after purchasing an additional 1,428 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on RRC shares. Royal Bank Of Canada cut their price target on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. TD Cowen raised Range Resources to a “hold” rating in a research note on Monday, February 9th. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Bank of America reissued a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. Finally, Mizuho lifted their target price on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.29.

Range Resources Stock Down 1.2%

Shares of NYSE:RRC opened at $41.39 on Wednesday. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.38 and a beta of 0.57. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $43.50. The business has a 50-day moving average price of $36.39 and a 200 day moving average price of $36.47. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company had revenue of $786.89 million for the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. Range Resources’s revenue for the quarter was up 30.9% compared to the same quarter last year. Sell-side analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is 13.14%.

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.