Oppenheimer & Co. Inc. Boosts Holdings in Range Resources Corporation $RRC

Oppenheimer & Co. Inc. increased its position in Range Resources Corporation (NYSE:RRC) by 753.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,179 shares of the oil and gas exploration company’s stock after purchasing an additional 79,613 shares during the period. Oppenheimer & Co. Inc.’s holdings in Range Resources were worth $3,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of Range Resources by 3.1% during the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock valued at $431,000 after buying an additional 315 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Range Resources by 49.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 336 shares in the last quarter. Seelaus Asset Management LLC boosted its stake in Range Resources by 4.0% during the 3rd quarter. Seelaus Asset Management LLC now owns 9,455 shares of the oil and gas exploration company’s stock valued at $356,000 after purchasing an additional 365 shares during the last quarter. Portside Wealth Group LLC increased its holdings in shares of Range Resources by 5.5% in the 3rd quarter. Portside Wealth Group LLC now owns 7,706 shares of the oil and gas exploration company’s stock worth $290,000 after purchasing an additional 405 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Range Resources by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 174,750 shares of the oil and gas exploration company’s stock worth $7,107,000 after purchasing an additional 470 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Susquehanna lowered their price target on Range Resources to $39.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Morgan Stanley decreased their target price on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Mizuho upped their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Piper Sandler dropped their price target on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Finally, Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.12.

Range Resources Price Performance

NYSE RRC opened at $36.39 on Thursday. The company has a 50-day moving average price of $35.68 and a 200-day moving average price of $36.09. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. 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 firm has a market capitalization of $8.62 billion, a P/E ratio of 15.29, a PEG ratio of 0.33 and a beta of 0.58.

Range Resources Dividend Announcement

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