Telemark Asset Management LLC Sells 100,000 Shares of Range Resources Corporation $RRC

Telemark Asset Management LLC reduced its position in Range Resources Corporation (NYSE:RRC) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,000 shares of the oil and gas exploration company’s stock after selling 100,000 shares during the period. Range Resources makes up about 2.1% of Telemark Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Telemark Asset Management LLC owned approximately 0.25% of Range Resources worth $22,584,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Range Resources by 2.1% in the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after purchasing an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Range Resources by 1.9% in the 1st 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 period. Focus Partners Wealth purchased a new position in shares of Range Resources in the first quarter worth approximately $285,000. Allianz Asset Management GmbH purchased a new position in shares of Range Resources in the second quarter worth approximately $236,000. Finally, D.A. Davidson & CO. grew its position in Range Resources by 14.5% during the second quarter. D.A. Davidson & CO. now owns 17,554 shares of the oil and gas exploration company’s stock valued at $714,000 after buying an additional 2,223 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 1.5%

Shares of Range Resources stock opened at $39.71 on Friday. Range Resources Corporation has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $9.41 billion, a P/E ratio of 16.69, a P/E/G ratio of 0.36 and a beta of 0.58. The company has a fifty day moving average of $35.69 and a 200 day moving average of $36.19.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Range Resources’s payout ratio is 15.13%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. Citigroup reduced their price objective on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Royal Bank Of Canada lowered their target price on 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. Bank of America restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Finally, UBS Group raised their price objective on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.12.

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.