Neo Ivy Capital Management Invests $2.21 Million in Range Resources Corporation $RRC

Neo Ivy Capital Management acquired a new stake in Range Resources Corporation (NYSE:RRC) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 58,652 shares of the oil and gas exploration company’s stock, valued at approximately $2,208,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hantz Financial Services Inc. increased its holdings in 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 worth $31,000 after purchasing an additional 703 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of 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 worth $38,000 after buying an additional 541 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 worth $38,000 after buying an additional 336 shares during the period. Allworth Financial LP grew its position in shares of Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 731 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of 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 valued at $69,000 after acquiring an additional 1,428 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $39.00 target price (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.06.

Range Resources Stock Performance

NYSE RRC opened at $41.57 on Friday. The company has a market cap of $9.78 billion, a P/E ratio of 15.17, a PEG ratio of 0.38 and a beta of 0.57. The company has a fifty day simple moving average of $36.77 and a 200 day simple moving average of $36.61. 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 Corporation has a 12-month low of $30.32 and a 12-month high of $43.50.

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

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.10 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio (DPR) is currently 13.14%.

About Range Resources

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.