Manatuck Hill Partners LLC Has $1.06 Million Position in Range Resources Corporation $RRC

Manatuck Hill Partners LLC lowered its holdings in Range Resources Corporation (NYSE:RRC) by 40.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the oil and gas exploration company’s stock after selling 20,000 shares during the quarter. Manatuck Hill Partners LLC’s holdings in Range Resources were worth $1,058,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in Range Resources by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock valued at $975,311,000 after purchasing an additional 326,748 shares during the period. Vanguard Group Inc. grew its position in Range Resources by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after purchasing an additional 701,751 shares during the period. Boston Partners grew its position in Range Resources by 14.0% in the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock valued at $474,585,000 after purchasing an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP grew its position in Range Resources by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,965,029 shares of the oil and gas exploration company’s stock valued at $316,123,000 after purchasing an additional 673,827 shares during the period. Finally, Kopernik Global Investors LLC grew its position in Range Resources by 18.5% in the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock valued at $184,724,000 after purchasing an additional 818,295 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RRC shares. Piper Sandler raised their target price on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Weiss Ratings lowered Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 2nd. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Zacks Research downgraded shares of Range Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Stephens cut their price objective on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.00.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Range Resources Trading Down 2.3%

NYSE RRC opened at $36.67 on Thursday. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 9.70 and a beta of 0.42. Range Resources Corporation has a one year low of $32.60 and a one year high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The business’s fifty day moving average is $40.98 and its 200-day moving average is $39.35.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.10 per share. 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 payout ratio is presently 10.58%.

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.