Aventail Capital Group LP Acquires 260,884 Shares of Range Resources Corporation $RRC

Aventail Capital Group LP boosted its holdings in Range Resources Corporation (NYSE:RRC) by 130.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 461,340 shares of the oil and gas exploration company’s stock after purchasing an additional 260,884 shares during the quarter. Aventail Capital Group LP owned about 0.19% of Range Resources worth $17,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of Range Resources by 116.3% in the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 worth $38,000 after buying an additional 336 shares during the last quarter. Allworth Financial LP increased its position in Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 731 shares in the last quarter. Clearstead Advisors LLC raised its stake in Range Resources by 439.5% during the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 1,714 shares during the last quarter. Finally, MAI Capital Management purchased a new position in Range Resources during the second quarter valued at $87,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 1.5%

Range Resources stock opened at $43.54 on Friday. Range Resources Corporation has a 12 month low of $30.32 and a 12 month high of $43.65. The stock has a fifty day simple moving average of $37.43 and a two-hundred day simple moving average of $36.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 0.40 and a beta of 0.57.

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

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s payout ratio is 13.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RRC shares. UBS Group boosted their target price on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Royal Bank Of Canada lowered their price target on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $39.00 price target (down from $44.00) on shares of Range Resources in a research note on Monday, December 8th. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Bank of America restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $42.13.

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.