Moran Wealth Management LLC Raises Holdings in Range Resources Corporation $RRC

Moran Wealth Management LLC boosted its position in Range Resources Corporation (NYSE:RRC) by 41.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,665 shares of the oil and gas exploration company’s stock after acquiring an additional 22,189 shares during the quarter. Moran Wealth Management LLC’s holdings in Range Resources were worth $3,419,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RRC. American Century Companies Inc. raised its stake in Range Resources by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 754,293 shares of the oil and gas exploration company’s stock valued at $28,392,000 after purchasing an additional 49,979 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after purchasing an additional 701,751 shares during the last quarter. Mizuho Markets Cayman LP purchased a new stake in shares of Range Resources during the third quarter worth about $5,613,000. SG Americas Securities LLC raised its position in shares of Range Resources by 101.2% in the fourth quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company’s stock valued at $2,351,000 after buying an additional 33,544 shares during the last quarter. Finally, Canoe Financial LP lifted its stake in shares of Range Resources by 13.1% during the fourth quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company’s stock valued at $56,261,000 after buying an additional 182,000 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RRC shares. Stephens set a $53.00 target price on shares of Range Resources in a research note on Tuesday, June 23rd. Morgan Stanley decreased their price objective on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Weiss Ratings lowered Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 2nd. Citigroup decreased their price target on Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Piper Sandler upped their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.33.

Range Resources Trading Down 0.1%

NYSE:RRC opened at $37.75 on Monday. The business’s 50-day moving average is $39.68 and its two-hundred day moving average is $39.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The firm has a market capitalization of $8.90 billion, a PE ratio of 9.99 and a beta of 0.41.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 49.8% on a year-over-year basis. Research analysts predict that Range Resources Corporation will post 3.6 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid 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 was Friday, June 12th. Range Resources’s dividend payout ratio is 10.58%.

Insider Activity at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred 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 owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

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.