JPMorgan Chase & Co. Has $129.57 Million Position in Range Resources Corporation $RRC

JPMorgan Chase & Co. grew its holdings in shares of Range Resources Corporation (NYSE:RRC) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,442,223 shares of the oil and gas exploration company’s stock after buying an additional 157,387 shares during the quarter. JPMorgan Chase & Co.’s holdings in Range Resources were worth $129,565,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in Range Resources by 1,464.6% during the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 703 shares in the last quarter. True Wealth Design LLC increased its position in shares of Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the last quarter. Smartleaf Asset Management LLC raised 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Range Resources in the 2nd quarter valued at approximately $45,000. Finally, Allworth Financial LP grew its stake in shares of Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 731 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 1.5%

Shares of RRC opened at $39.71 on Friday. The firm has a market cap of $9.41 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 0.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. The firm’s 50-day simple moving average is $35.69 and its 200 day simple moving average is $36.19.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Analysts Set New Price Targets

Several analysts have issued reports on RRC shares. Citigroup dropped their price target on shares of Range Resources from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Bank of America restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Piper Sandler cut their target price on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Range Resources in a report on Monday, December 29th. Finally, Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.12.

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.