Fore Capital LLC Makes New Investment in Range Resources Corporation $RRC

Fore Capital LLC purchased a new stake in Range Resources Corporation (NYSE:RRC) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the oil and gas exploration company’s stock, valued at approximately $1,116,000. Range Resources accounts for approximately 0.3% of Fore Capital LLC’s holdings, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Diversify Advisory Services LLC acquired a new stake in shares of Range Resources during the second quarter worth $1,880,000. Foster & Motley Inc. acquired a new position in Range Resources in the 2nd quarter worth $758,000. Energy Income Partners LLC acquired a new position in Range Resources in the 2nd quarter worth $31,933,000. BlackRock Inc. bought a new position in Range Resources during the 2nd quarter worth about $868,085,000. Finally, Deutsche Bank AG bought a new position in Range Resources during the 2nd quarter worth about $3,683,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director owned 13,421 shares of the company’s stock, valued at $536,840. The trade was a 20.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Range Resources Trading Up 1.5%

Shares of NYSE:RRC opened at $39.94 on Wednesday. The company’s 50-day moving average price is $37.97 and its two-hundred day moving average price is $40.02. Range Resources Corporation has a one year low of $32.60 and a one year high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $9.33 billion, a PE ratio of 11.03 and a beta of 0.42.

Range Resources (NYSE:RRC) last announced 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 company had revenue of $759.58 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, equities analysts forecast that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RRC shares. Wells Fargo & Company cut their price target on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings downgraded Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. UBS Group reissued a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. The Goldman Sachs Group cut their target price on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Finally, Raymond James Financial set a $45.00 price target on Range Resources in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.81.

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.