Jump Financial LLC Makes New Investment in Range Resources Corporation $RRC

Jump Financial LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,179 shares of the oil and gas exploration company’s stock, valued at approximately $367,000.

A number of other large investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Range Resources during the first quarter worth approximately $146,000. AlphaQuest LLC purchased a new position in shares of Range Resources in the 1st quarter valued at $416,000. Compound Planning Inc. purchased a new position in shares of Range Resources in the 1st quarter valued at $200,000. CW Advisors LLC raised its stake in shares of Range Resources by 32.4% in the 1st quarter. CW Advisors LLC now owns 104,658 shares of the oil and gas exploration company’s stock valued at $4,180,000 after acquiring an additional 25,621 shares during the period. Finally, Kopernik Global Investors LLC raised its stake in shares of Range Resources by 5.2% in the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company’s stock valued at $113,667,000 after acquiring an additional 140,043 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. Piper Sandler cut their target price on shares of Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Bank of America raised their target price on shares of Range Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Susquehanna raised their target price on shares of Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, UBS Group cut their target price on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 20th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.75.

Range Resources Price Performance

Shares of RRC stock opened at $34.63 on Wednesday. The firm has a market cap of $8.25 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.29 and a beta of 0.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources Corporation has a 1-year low of $27.55 and a 1-year high of $43.50. The firm has a fifty day moving average of $36.21 and a two-hundred day moving average of $37.20.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same period last year, the business earned $0.46 EPS. As a group, research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is currently 18.09%.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.