Empowered Funds LLC Buys 227,279 Shares of Range Resources Corporation $RRC

Empowered Funds LLC boosted its stake in Range Resources Corporation (NYSE:RRC) by 258.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 315,093 shares of the oil and gas exploration company’s stock after buying an additional 227,279 shares during the period. Empowered Funds LLC owned approximately 0.13% of Range Resources worth $14,236,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Range Resources by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after acquiring an additional 326,748 shares during the period. Vanguard Group Inc. lifted its holdings in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after purchasing an additional 701,751 shares during the last quarter. Boston Partners lifted its holdings in Range Resources by 14.0% during the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after purchasing an additional 1,650,258 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Range Resources by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock valued at $415,354,000 after purchasing an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC grew its holdings in Range Resources by 18.5% in the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock valued at $184,724,000 after buying an additional 818,295 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Up 4.5%

Shares of RRC opened at $39.97 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 11.04 and a beta of 0.41. The business’s fifty day moving average is $38.00 and its 200-day moving average is $39.55.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million for 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% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. Equities analysts anticipate that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research report on Monday. Susquehanna cut their price objective on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Wells Fargo & Company decreased their target price on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Truist Financial reduced their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $43.35.

Range Resources 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.