SG Americas Securities LLC Purchases 14,937 Shares of Range Resources Corporation $RRC

SG Americas Securities LLC grew its position in shares of Range Resources Corporation (NYSE:RRC) by 82.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,145 shares of the oil and gas exploration company’s stock after buying an additional 14,937 shares during the period. SG Americas Securities LLC’s holdings in Range Resources were worth $1,248,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock valued at $194,644,000 after acquiring an additional 3,336,299 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Range Resources in the second quarter worth about $36,590,000. Peconic Partners LLC bought a new stake in shares of Range Resources in the second quarter valued at approximately $32,536,000. Qube Research & Technologies Ltd lifted its stake in shares of Range Resources by 30.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock valued at $120,050,000 after buying an additional 689,212 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG bought a new position in Range Resources in the 3rd quarter worth approximately $19,535,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RRC shares. Mizuho boosted their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. UBS Group boosted their price objective on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Royal Bank Of Canada cut their target price on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company set a $43.00 price target on Range Resources and gave the company an “equal weight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.37.

Range Resources Stock Performance

NYSE:RRC opened at $34.42 on Friday. The stock has a market cap of $8.16 billion, a P/E ratio of 14.46, a PEG ratio of 0.23 and a beta of 0.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $36.53 and its two-hundred day moving average price is $36.29. Range Resources Corporation has a twelve month low of $30.32 and a twelve month high of $43.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The company had revenue of $655.30 million for the quarter, compared to analysts’ expectations of $721.22 million. During the same period in the prior year, the business earned $0.48 earnings per share. Range Resources’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were given a dividend of $0.09 per share. The ex-dividend date was Friday, December 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is 15.13%.

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.