Lingotto Investment Management LLP Has $254.46 Million Holdings in Range Resources Corporation $RRC

Lingotto Investment Management LLP raised its holdings in Range Resources Corporation (NYSE:RRC) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,216,694 shares of the oil and gas exploration company’s stock after purchasing an additional 16,220 shares during the quarter. Range Resources makes up about 4.4% of Lingotto Investment Management LLP’s investment portfolio, making the stock its 8th largest position. Lingotto Investment Management LLP owned approximately 3.05% of Range Resources worth $254,461,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RRC. Empowered Funds LLC raised its position in Range Resources by 2.1% in the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock valued at $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 increased 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 valued at $18,639,000 after buying an additional 8,816 shares during the period. Focus Partners Wealth acquired a new stake in shares of Range Resources in the 1st quarter valued at $285,000. EverSource Wealth Advisors LLC increased its stake in shares of Range Resources by 63.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 1,139 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Range Resources by 8.0% in the 2nd quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after buying an additional 30,481 shares during the period. Institutional investors own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Range Resources Stock Up 2.1%

Shares of Range Resources stock opened at $39.76 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The business has a fifty day simple moving average of $42.53 and a 200 day simple moving average of $39.33. The stock has a market cap of $9.37 billion, a PE ratio of 10.52 and a beta of 0.46.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. During the same period in the previous year, the firm earned $0.96 earnings per share. The company’s revenue was up 49.8% on a year-over-year basis. Research analysts predict that Range Resources Corporation will post 3.71 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 12th. Range Resources’s payout ratio is presently 10.58%.

Analyst Ratings Changes

RRC has been the subject of several research reports. Wells Fargo & Company lifted their target price 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. TD Cowen lifted their target price on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Stephens lowered their target price on Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Bank of America lifted their target price on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Finally, Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Range Resources currently has an average rating of “Hold” and an average price target of $44.00.

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.