The Manufacturers Life Insurance Company Purchases 1,013,039 Shares of Range Resources Corporation $RRC

The Manufacturers Life Insurance Company raised its position in shares of Range Resources Corporation (NYSE:RRC) by 626.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,174,708 shares of the oil and gas exploration company’s stock after acquiring an additional 1,013,039 shares during the period. The Manufacturers Life Insurance Company’s holdings in Range Resources were worth $53,073,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RRC. Los Angeles Capital Management LLC acquired a new position in shares of Range Resources during the 4th quarter worth about $34,000. Root Financial Partners LLC increased its position in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 276 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in Range Resources in the 4th quarter worth approximately $57,000. Basepoint Wealth LLC acquired a new position in shares of Range Resources during the fourth quarter worth approximately $61,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Range Resources during the fourth quarter worth approximately $71,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 4.5%

Shares of RRC stock opened at $39.97 on Thursday. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 11.04 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a fifty day moving average of $38.00 and a 200-day moving average of $39.55.

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

Range Resources Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s payout ratio is currently 11.05%.

Analyst Upgrades and Downgrades

RRC has been the topic of several research analyst reports. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Stephens upped their target price on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Bank of America increased their price target on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Finally, UBS Group decreased their price target on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.35.

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.