Wealth High Governance Capital Ltda Acquires New Shares in Range Resources Corporation $RRC

Wealth High Governance Capital Ltda acquired a new position in Range Resources Corporation (NYSE:RRC) in the 3rd quarter, Holdings Channel reports. The firm acquired 180,000 shares of the oil and gas exploration company’s stock, valued at approximately $6,775,000. Range Resources comprises 1.9% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RRC. Empowered Funds LLC grew its holdings in shares of Range Resources by 2.1% during the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 valued at $18,639,000 after buying an additional 8,816 shares during the period. Focus Partners Wealth purchased a new position in Range Resources during the first quarter worth about $285,000. Savant Capital LLC increased its position in shares of Range Resources by 48.4% during the second quarter. Savant Capital LLC now owns 10,329 shares of the oil and gas exploration company’s stock valued at $420,000 after acquiring an additional 3,369 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Range Resources by 4.8% in the 2nd quarter. Acadian Asset Management LLC now owns 78,781 shares of the oil and gas exploration company’s stock worth $3,201,000 after acquiring an additional 3,642 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RRC. Piper Sandler lifted their target price on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group upped their price target on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Morgan Stanley lowered their price target on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Wells Fargo & Company lifted their price objective on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings raised Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.13.

Range Resources Stock Up 0.2%

Shares of Range Resources stock traded up $0.08 during trading hours on Friday, reaching $42.96. 538,941 shares of the company were exchanged, compared to its average volume of 3,373,821. Range Resources Corporation has a 1 year low of $30.32 and a 1 year high of $43.55. The stock’s fifty day moving average is $37.27 and its 200 day moving average is $36.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $10.11 billion, a PE ratio of 15.67, a PEG ratio of 0.39 and a beta of 0.57.

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

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s payout ratio is currently 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.