Y Intercept Hong Kong Ltd Has $1.16 Million Stake in Range Resources Corporation $RRC

Y Intercept Hong Kong Ltd trimmed its stake in Range Resources Corporation (NYSE:RRC) by 86.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,601 shares of the oil and gas exploration company’s stock after selling 163,758 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Range Resources were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in RRC. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources during the 4th quarter valued at $34,000. Root Financial Partners LLC grew its stake in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources in the fourth quarter valued at about $57,000. Basepoint Wealth LLC acquired a new position in Range Resources in the 4th quarter worth about $61,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Range Resources during the 4th quarter worth about $71,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

RRC traded down $1.26 during trading on Friday, hitting $35.47. The stock had a trading volume of 2,869,062 shares, compared to its average volume of 3,134,867. The firm has a market cap of $8.36 billion, a PE ratio of 9.38 and a beta of 0.41. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $39.11 and a 200-day simple moving average of $39.29.

Range Resources (NYSE:RRC) last released 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. During the same period in the prior year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. Analysts expect that Range Resources Corporation will post 3.5 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued 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 1.1%. Range Resources’s dividend payout ratio (DPR) is 10.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Citigroup reduced their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Bank of America increased their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Truist Financial decreased their price objective on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday. Finally, Stephens reduced their price target on Range Resources from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.00.

About Range Resources

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.