Mizuho Markets Cayman LP Makes New Investment in Range Resources Corporation $RRC

Mizuho Markets Cayman LP acquired a new position in shares of Range Resources Corporation (NYSE:RRC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 149,117 shares of the oil and gas exploration company’s stock, valued at approximately $5,613,000. Mizuho Markets Cayman LP owned 0.06% of Range Resources at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RRC. CWA Asset Management Group LLC increased its holdings in shares of Range Resources by 43.5% in the third quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock valued at $14,626,000 after purchasing an additional 117,722 shares during the period. Congress Asset Management Co. raised its stake in shares of Range Resources by 12.1% in the third quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock worth $20,299,000 after purchasing an additional 58,335 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Range Resources by 753.5% during the third quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock worth $3,394,000 after purchasing an additional 79,613 shares during the period. Citigroup Inc. lifted its holdings in shares of Range Resources by 71.0% during the third quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock worth $11,578,000 after purchasing an additional 127,753 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Range Resources by 48.3% in the third quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock valued at $5,086,000 after buying an additional 44,004 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RRC has been the topic of several research reports. Piper Sandler increased their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Barclays upped their price objective on shares of Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley cut their price objective on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.44.

Range Resources Trading Down 0.5%

Shares of NYSE:RRC opened at $43.39 on Wednesday. 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 $44.56. The business has a 50 day moving average of $37.79 and a two-hundred day moving average of $37.09. The company has a market capitalization of $10.21 billion, a PE ratio of 15.83, a PEG ratio of 0.40 and a beta of 0.57.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The business’s revenue was up 30.9% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. As a group, analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently declared 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 is a boost from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, March 13th. Range Resources’s dividend payout ratio (DPR) is 14.60%.

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.