Delta Global Management LP Purchases Shares of 54,419 Range Resources Corporation $RRC

Delta Global Management LP bought a new position in Range Resources Corporation (NYSE:RRC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 54,419 shares of the oil and gas exploration company’s stock, valued at approximately $2,459,000.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in Range Resources by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after acquiring an additional 326,748 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Range Resources by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after acquiring an additional 701,751 shares during the last quarter. Boston Partners raised its stake in shares of Range Resources by 14.0% in the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after acquiring an additional 1,650,258 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Range Resources by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after purchasing an additional 227,711 shares in the last quarter. Finally, Kopernik Global Investors LLC grew its stake in shares of Range Resources by 18.5% during the fourth 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 last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRC. Weiss Ratings cut Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Susquehanna cut their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Wells Fargo & Company cut their target price on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday. Zacks Research lowered shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Truist Financial lowered their price target on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.12.

Range Resources Stock Performance

Shares of RRC opened at $38.97 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.65. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The firm’s 50 day moving average price is $38.23 and its two-hundred day moving average price is $39.42. The firm has a market cap of $9.11 billion, a P/E ratio of 10.77 and a beta of 0.41.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s payout ratio is currently 11.05%.

Range Resources 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.