Ceredex Value Advisors LLC Makes New Investment in Range Resources Corporation $RRC

Ceredex Value Advisors LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 270,300 shares of the oil and gas exploration company’s stock, valued at approximately $10,052,000.

Several other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Range Resources in the second quarter valued at about $26,000. Los Angeles Capital Management LLC bought a new position in Range Resources during the 4th quarter worth about $34,000. Root Financial Partners LLC grew its holdings in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 276 shares in the last quarter. Trust Co. of Vermont purchased a new position in Range Resources during the 2nd quarter valued at about $45,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the subject of several research reports. UBS Group reaffirmed a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. Raymond James Financial set a $45.00 price objective on shares of Range Resources in a report on Monday, July 27th. Wells Fargo & Company reduced their price objective on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday. Finally, Weiss Ratings cut Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus target price of $43.75.

Range Resources Stock Performance

Shares of RRC opened at $41.13 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.61 billion, a PE ratio of 11.36 and a beta of 0.42. Range Resources Corporation has a 12 month low of $32.68 and a 12 month high of $48.31. The stock has a fifty day moving average price of $38.10 and a 200-day moving average price of $40.06.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.