Dimensional Fund Advisors LP Raises Stock Holdings in Range Resources Corporation $RRC

Dimensional Fund Advisors LP increased its stake in Range Resources Corporation (NYSE:RRC) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,291,202 shares of the oil and gas exploration company’s stock after purchasing an additional 608,274 shares during the period. Dimensional Fund Advisors LP’s holdings in Range Resources were worth $312,075,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RRC. Empowered Funds LLC increased its holdings in shares of Range Resources by 2.1% in the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after buying an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Range Resources by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after acquiring an additional 8,816 shares in the last quarter. Focus Partners Wealth bought a new position in Range Resources in the first quarter valued at $285,000. Hantz Financial Services Inc. increased its stake in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares during the last quarter. Finally, Sigma Planning Corp raised its position in Range Resources by 63.3% during the second quarter. Sigma Planning Corp now owns 14,190 shares of the oil and gas exploration company’s stock valued at $577,000 after purchasing an additional 5,502 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRC has been the topic of several recent research reports. TD Cowen upgraded Range Resources to a “hold” rating in a research report on Monday, February 9th. Mizuho upped their target price on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Citigroup increased their price target on shares of Range Resources from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group boosted their price objective on shares of Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Piper Sandler increased their target price on shares of Range Resources from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus target price of $42.06.

Range Resources Stock Up 0.7%

Shares of NYSE RRC opened at $41.86 on Friday. The firm’s fifty day moving average is $36.65 and its 200 day moving average is $36.55. 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 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.38 and a beta of 0.57.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The company had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. Range Resources’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, equities research analysts expect that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.10 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is 13.14%.

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.