iSAM Funds UK Ltd Invests $467,000 in Range Resources Co. (NYSE:RRC)

iSAM Funds UK Ltd has reported the acquisition of a new position in shares of Range Resources Co. (NYSE:RRC) during the third quarter. According to the recent filing with the Securities and Exchange Commission, the institutional investor bought 15,193 shares of this oil and gas exploration company, which is valued at approximately $467,000.

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Several other institutional investors and hedge funds have also made adjustments to their positions in Range Resources. DF Dent & Co. Inc. increased their stake by 72.7% during the third quarter, now owning 133,185 shares valued at $4,097,000 after adding 56,050 shares in the last quarter. Castleark Management LLC acquired a new stake valued at $1,624,000, while Weiss Asset Management LP purchased a new stake at a value of $490,000. Additionally, Quantinno Capital Management LP invested $234,000, and Royal London Asset Management Ltd. raised its stake by 1.6%, now owning a total of 671,954 shares worth $20,669,000 after acquiring 10,385 additional shares. Currently, institutional investors represent 98.93% of the company's stock ownership.

Stock Performance of Range Resources

The stock opened at $33.75 on the latest trading day. Range Resources has a market capitalization of $8.14 billion, a P/E ratio of 17.05, and a beta of 1.85. Over the past year, the company's stock has seen a low of $27.29 and a high of $39.33. The company holds a debt-to-equity ratio of 0.28, and both its quick ratio and current ratio stand at 0.54, indicating sufficient short-term financial health. As for moving averages, the fifty-day average is currently $32.57, while the 200-day average is $32.44.

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Range Resources reported its latest earnings results on October 22nd. The company posted earnings per share (EPS) of $0.48, surpassing the consensus estimate of $0.32 by $0.16. Revenue for the quarter totaled $615.03 million, which was slightly below analyst predictions of $617.90 million. The company reported a return on equity of 13.69% and a net margin of 17.63%. Compared to the same quarter last year, quarterly revenue has increased by 0.9%, with previous EPS reported at $0.43. Analysts forecast that Range Resources Co. will conclude the current fiscal year with an EPS of 1.9.

Dividend Announcements from Range Resources

Recently, Range Resources announced a quarterly dividend planned for distribution on December 27th. Shareholders on record by December 13th will receive a dividend of $0.08 per share, with the ex-dividend date also falling on December 13th. This yields an annualized dividend of $0.32, resulting in a dividend yield of 0.95%. The company currently maintains a dividend payout ratio of 16.16%.

Insider Transactions

In related news, Director Charles G. Griffie acquired 1,275 shares at an average cost of $31.46 on October 24th, totaling $40,111.50. After this transaction, his total ownership in the company increased to 5,921 shares, valued at approximately $186,274.66, which is a 27.44% increase in his holdings. Meanwhile, VP Ashley Kavanaugh sold 12,700 shares on September 23rd at an average price of $31.45, worth $399,415.00. Following the sale, Kavanaugh holds 9,670 shares, valued around $304,121.50, reflecting a 56.77% decrease in ownership. Corporate insiders own about 1.57% of Range Resources stock.

Analyst Predictions for Range Resources

Several research firms have recently provided their assessments of Range Resources. UBS Group downgraded its price target from $30.00 to $27.00, assigning a "sell" rating. Wells Fargo & Company also lowered its target from $39.00 to $38.00, with an "equal weight" rating. JPMorgan Chase reduced their target from $37.00 to $31.00 and categorized it as "underweight." In contrast, Stephens increased their price target from $36.00 to $37.00, giving the stock an "overweight" rating, while Citigroup raised their price target from $33.00 to $38.00, giving it a "neutral" rating. Overall, four analysts have a "sell" rating on the stock, while twelve have a hold rating, and five analysts recommend a buy, resulting in a consensus rating of "Hold" with an average price target of $35.06.

Company Overview of Range Resources

Range Resources Corporation operates as an independent entity engaged in the exploration and production of natural gas, natural gas liquids (NGLs), crude oil, and condensate within the United States. The company focuses on the development and acquisition of oil and gas properties primarily in the Appalachian region, supplying natural gas to utilities, midstream companies, and industries, as well as providing NGLs to various users and crude oil to transporters and refining companies.

Final Thoughts

Investors looking at Range Resources might want to consider various opinions from analysts before making decisions regarding this stock. Many believe that while analysts have given a mixed assessment, it is beneficial to remain informed on market trends and company performance.

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