UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in Range Resources Corporation $RRC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Range Resources Corporation (NYSE:RRC) by 23.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 549,315 shares of the oil and gas exploration company’s stock after acquiring an additional 104,096 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Range Resources were worth $20,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RRC. BlackRock Inc. bought a new position in Range Resources during the 2nd quarter valued at approximately $868,085,000. Boston Partners grew its stake in shares of Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after acquiring an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after acquiring an additional 2,045,165 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Range Resources during the second quarter valued at $67,470,000. Finally, Bank of America Corp DE bought a new position in shares of Range Resources during the second quarter valued at $58,524,000. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Morgan Stanley reduced their price objective on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. The Goldman Sachs Group decreased their target price on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Wells Fargo & Company cut their price target on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Finally, Citigroup reissued a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.75.

Range Resources Trading Down 1.0%

Range Resources stock opened at $41.96 on Friday. Range Resources Corporation has a one year low of $32.68 and a one year high of $48.31. The business’s fifty day moving average is $39.10 and its 200 day moving average is $40.45. The stock has a market capitalization of $9.81 billion, a PE ratio of 11.59 and a beta of 0.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The business had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.Range Resources’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts predict that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s payout ratio is presently 11.05%.

Insiders Place Their Bets

In related news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

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.