McAlvany Wealth Management LLC Takes $2.94 Million Position in Range Resources Corporation $RRC

McAlvany Wealth Management LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) in the 4th quarter, Holdings Channel.com reports. The firm purchased 83,434 shares of the oil and gas exploration company’s stock, valued at approximately $2,942,000. Range Resources accounts for about 2.3% of McAlvany Wealth Management LLC’s holdings, making the stock its 13th biggest position.

Several other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC increased its stake in Range Resources by 2.1% in the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock valued at $3,029,000 after buying an additional 1,563 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Range Resources by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after acquiring an additional 8,816 shares during the period. Focus Partners Wealth acquired a new stake in shares of Range Resources in the 1st quarter worth $285,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock valued at $119,000 after acquiring an additional 1,139 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Range Resources by 8.0% in the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after acquiring an additional 30,481 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RRC. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Bank of America lifted their price objective on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Stephens dropped their target price on Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. TD Cowen increased their target price on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company raised their price target on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.00.

Range Resources Stock Performance

NYSE:RRC opened at $36.45 on Friday. 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 Corporation has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The stock has a market cap of $8.59 billion, a PE ratio of 9.64 and a beta of 0.42. The firm’s fifty day simple moving average is $40.69 and its 200-day simple moving average is $39.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings results 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 business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same quarter last year, the firm posted $0.96 EPS. The business’s revenue was up 49.8% compared to the same quarter last year. Analysts expect that Range Resources Corporation will post 3.71 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, June 12th. Range Resources’s dividend payout ratio is presently 10.58%.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

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.