Mizuho Markets Cayman LP Has $11.86 Million Holdings in Range Resources Corporation $RRC

Mizuho Markets Cayman LP raised its holdings in shares of Range Resources Corporation (NYSE:RRC) by 125.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 336,363 shares of the oil and gas exploration company’s stock after acquiring an additional 187,246 shares during the quarter. Range Resources makes up 0.6% of Mizuho Markets Cayman LP’s portfolio, making the stock its 24th biggest position. Mizuho Markets Cayman LP’s holdings in Range Resources were worth $11,860,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its position in Range Resources by 753.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock valued at $3,394,000 after purchasing an additional 79,613 shares during the period. Vanguard Group Inc. lifted its position in Range Resources by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after purchasing an additional 799,574 shares during the period. Citigroup Inc. lifted its position in Range Resources by 71.0% during the 3rd quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock valued at $11,578,000 after purchasing an additional 127,753 shares during the period. Envestnet Asset Management Inc. lifted its position in Range Resources by 48.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock valued at $5,086,000 after purchasing an additional 44,004 shares during the period. Finally, American Century Companies Inc. lifted its position in Range Resources by 7.1% during 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 period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This trade represents a 19.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Range Resources Price Performance

Shares of RRC opened at $41.07 on Friday. The stock has a market capitalization of $9.68 billion, a P/E ratio of 10.87 and a beta of 0.46. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The company has a 50 day moving average of $43.01 and a 200-day moving average of $39.22. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. As a group, equities research analysts forecast that Range Resources Corporation will post 3.75 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio (DPR) is 10.58%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RRC. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Range Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Bank of America upped their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Morgan Stanley upped their target price on shares of Range Resources from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Wells Fargo & Company increased their price target on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.00.

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.