EFG International AG Takes $2.62 Million Position in Range Resources Corporation $RRC

EFG International AG purchased a new stake in Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 70,333 shares of the oil and gas exploration company’s stock, valued at approximately $2,615,000.

Other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Range Resources in the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Range Resources in the second quarter valued at $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources during the 4th quarter worth $34,000. Root Financial Partners LLC boosted its position in shares of Range Resources by 37.8% during 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 purchasing an additional 276 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of Range Resources during the 2nd quarter worth $45,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Price Performance

Shares of NYSE RRC opened at $41.64 on Thursday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 11.50 and a beta of 0.42. Range Resources Corporation has a 52 week low of $32.68 and a 52 week high of $48.31. The company’s 50-day moving average price is $38.35 and its 200 day moving average price is $40.21. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts forecast that Range Resources Corporation will post 3.62 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Stephens increased their price target on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. UBS Group restated a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. Barclays dropped their target price on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. The Goldman Sachs Group decreased their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Company 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.