Fidelity Management & Research Co recently announced the acquisition of new stake in Range Resources Corp (NYSE:RRC). The institutional investor has increased its shareholding in the Energy company by 1.32% to 32.56 million shares with purchase of 0.43 million shares. This fresh investment now brings its stake to 13.49% valued currently at $1.17 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 4.24 million to 26.79 million shares. And BlackRock Fund Advisors has lifted its position by 0.53% or 0.1 million shares – to 19.59 million shares.
With over 3.73 million Range Resources Corp (RRC) shares trading Tuesday and a closing price of $32.97 on the day, the dollar volume was approximately $123.12 million. The shares have shown a positive half year performance of 12.76% and its price on 11/21/23 lost nearly -1.49%. Currently, there are 238.89M common shares owned by the public and among those 234.11M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 1,694,420 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 915,000 shares.
The top 3 mutual fund holders in Range Resources Corp are T Rowe Price Value Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. T Rowe Price Value Fund owns 8.18 million shares of the company’s stock, all valued at over $293.18 million. The company bought an additional 0.76 million shares recently to bring their total holdings to about 3.39% of the shares outstanding. Vanguard Total Stock Market ETF bought 11935.0 shares to bring its total holdings to over 7.18 million shares at a value of $257.47 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.98% of the shares outstanding.
Shares of Range Resources Corp (NYSE: RRC) opened at $33.19, down -$0.28 from a prior closing price of $33.47. However, the script later moved the day high at 33.36, down -1.49%. The company’s stock has a 5-day price change of -2.69% and 6.73% over the past three months. RRC shares are trading 31.77% year to date (YTD), with the 12-month market performance up to 16.91% higher. It has a 12-month low price of $22.61 and touched a high of $37.88 over the same period. RRC has an average intraday trading volume of 2.56 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.56%, -1.45%, and 12.25% respectively.
Institutional ownership of Range Resources Corp (NYSE: RRC) shares accounts for 97.16% of the company’s 238.89M shares outstanding. Mutual fund holders own 39.73%, while other institutional holders and individual stakeholders account for 57.67% and 22.11% respectively.
It has a market capitalization of $7.96B and a beta (3y monthly) value of 1.99. The stock’s trailing 12-month PE ratio is 5.90, while the earnings-per-share (ttm) stands at $5.58. The company has a PEG of 0.48 and a Quick Ratio of 0.93 with the debt-to-equity ratio at 0.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.88% over the week and 3.32% over the month.
Analysts forecast that Range Resources Corp (RRC) will achieve an EPS of $0.54 for the current quarter, $0.89 for the next quarter and $3.28 for 2024. The lowest estimate earnings-per-share for the quarter is $0.38 while analysts give the company a high EPS estimate of $0.75. Comparatively, EPS for the current quarter was $1.3 a year ago. Earnings per share for the fiscal year are expected to decrease by -56.28%, and 39.92% over the next financial year. EPS should shrink at an annualized rate of 12.20% over the next five years, compared to 28.47% over the past 5-year period.
Looking at the support for the RRC, a number of firms have released research notes about the stock. Raymond James stated their Outperform rating for the stock in a research note on October 24, 2023, with the firm’s price target at $41.
