First American Trust FSB Takes $3.51 Million Position in Range Resources Corporation $RRC

First American Trust FSB acquired a new stake in Range Resources Corporation (NYSE:RRC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 99,581 shares of the oil and gas exploration company’s stock, valued at approximately $3,511,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RRC. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources in the fourth quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its position in shares of Range Resources by 49.6% during the third 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. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $57,000. Basepoint Wealth LLC purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $61,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $71,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on RRC shares. Barclays boosted their price target on Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. TD Cowen boosted their price target on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Weiss Ratings cut Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.00.

Range Resources Stock Performance

NYSE RRC opened at $39.17 on Thursday. The stock’s fifty day moving average is $41.60 and its two-hundred day moving average is $39.37. The firm has a market capitalization of $9.23 billion, a P/E ratio of 10.36 and a beta of 0.42. 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.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share 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 analyst estimates 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 for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, research analysts anticipate that Range Resources Corporation will post 3.7 earnings per share for the current year.

Range Resources Dividend Announcement

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

Insiders Place Their Bets

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the business’s 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

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.