Aristeia Capital L.L.C. Cuts Stock Position in Range Resources Corporation $RRC

Aristeia Capital L.L.C. lessened its holdings in Range Resources Corporation (NYSE:RRC) by 27.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,226 shares of the oil and gas exploration company’s stock after selling 78,562 shares during the quarter. Aristeia Capital L.L.C.’s holdings in Range Resources were worth $7,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after buying an additional 279 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after acquiring an additional 302 shares during the last quarter. Confluence Wealth Services Inc. grew its position in shares of Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after acquiring an additional 312 shares during the period. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 336 shares during the last quarter. Finally, AMG National Trust Bank increased its stake in shares of Range Resources by 0.9% during the 3rd quarter. AMG National Trust Bank now owns 41,986 shares of the oil and gas exploration company’s stock worth $1,580,000 after purchasing an additional 386 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Price Performance

Shares of NYSE RRC opened at $36.67 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The stock has a market cap of $8.64 billion, a PE ratio of 9.70 and a beta of 0.42. The stock has a fifty day moving average of $40.98 and a 200-day moving average of $39.35.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm’s revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Equities research analysts anticipate that Range Resources Corporation will post 3.71 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is 10.58%.

Insider Activity at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Piper Sandler boosted their target price on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Bank of America upped their price target on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Morgan Stanley increased their price target on Range Resources from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Finally, Truist Financial lowered their price objective on Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently 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.