Range Resources
About: Fort Worth-based Range Resources is an independent exploration and production company with that focuses entirely on its operations in the Marcellus Shale in Pennsylvania. At year-end 2023, Range Resources' proven reserves totaled 18.1 trillion cubic feet equivalent, with net production of 2.14 billion cubic feet equivalent per day. Natural gas accounted for 69% of production.
Employees: 548
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
23% more call options, than puts
Call options by funds: $61.3M | Put options by funds: $49.8M
10% more repeat investments, than reductions
Existing positions increased: 145 | Existing positions reduced: 132
1.79% less ownership
Funds ownership: 96.25% [Q2] → 94.46% (-1.79%) [Q3]
5% less funds holding
Funds holding: 416 [Q2] → 394 (-22) [Q3]
8% less funds holding in top 10
Funds holding in top 10: 12 [Q2] → 11 (-1) [Q3]
10% less capital invested
Capital invested by funds: $7.82B [Q2] → $7.04B (-$783M) [Q3]
30% less first-time investments, than exits
New positions opened: 51 | Existing positions closed: 73
Research analyst outlook
14 Wall Street Analysts provided 1 year price targets over the past 3 months
14 analyst ratings
Piper Sandler Mark Lear 53% 1-year accuracy 26 / 49 met price target | 12%downside $30 | Neutral Maintained | 18 Nov 2024 |
Stephens & Co. Mike Scialla 75% 1-year accuracy 21 / 28 met price target | 14%upside $39 | Overweight Maintained | 25 Oct 2024 |
Wells Fargo Roger Read 39% 1-year accuracy 33 / 85 met price target | 11%upside $38 | Equal-Weight Maintained | 25 Oct 2024 |
Stephens & Co. Mike Scialla 75% 1-year accuracy 21 / 28 met price target | 8%upside $37 | Overweight Maintained | 23 Oct 2024 |
Stephens & Co. Mike Scialla 75% 1-year accuracy 21 / 28 met price target | 5%upside $36 | Overweight Maintained | 17 Oct 2024 |
Financial journalist opinion
Based on 11 articles about RRC published over the past 30 days
