ING Groep NV Acquires New Position in Range Resources Corporation $RRC

ING Groep NV acquired a new stake in Range Resources Corporation (NYSE:RRC) in the fourth quarter, Holdings Channel reports. The firm acquired 84,800 shares of the oil and gas exploration company’s stock, valued at approximately $2,990,000.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $34,000. Smartleaf Asset Management LLC grew its holdings in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 336 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in Range Resources during the 4th quarter worth approximately $57,000. Basepoint Wealth LLC acquired a new position in Range Resources during the 4th quarter worth approximately $61,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on RRC shares. Morgan Stanley boosted their price target on shares of Range Resources from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 22nd. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Piper Sandler boosted their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wells Fargo & Company boosted their price target on shares of Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Zacks Research upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.00.

Range Resources Stock Up 0.1%

Shares of NYSE:RRC opened at $39.12 on Tuesday. The company has a market capitalization of $9.22 billion, a PE ratio of 10.35 and a beta of 0.42. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The firm has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $39.37.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, equities analysts predict that Range Resources Corporation will post 3.7 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 12th. Range Resources’s payout ratio is currently 10.58%.

Insider Buying and Selling at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

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.