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 Q2 SEC filings by fund managers ($100M+ AUM)
32% more first-time investments, than exits
New positions opened: 74 | Existing positions closed: 56
25% more call options, than puts
Call options by funds: $69.6M | Put options by funds: $55.8M
5% more funds holding
Funds holding: 398 [Q1] → 416 (+18) [Q2]
3.86% less ownership
Funds ownership: 99.05% [Q1] → 95.19% (-3.86%) [Q2]
6% less capital invested
Capital invested by funds: $8.25B [Q1] → $7.74B (-$511M) [Q2]
8% less funds holding in top 10
Funds holding in top 10: 13 [Q1] → 12 (-1) [Q2]
13% less repeat investments, than reductions
Existing positions increased: 127 | Existing positions reduced: 146
Research analyst outlook
14 Wall Street Analysts provided 1 year price targets over the past 3 months
14 analyst ratings
Stephens & Co. Mike Scialla 31% 1-year accuracy 4 / 13 met price target | 21%upside $36 | Overweight Maintained | 17 Oct 2024 |
Mizuho Nitin Kumar 20% 1-year accuracy 13 / 66 met price target | 34%upside $40 | Outperform Maintained | 9 Oct 2024 |
Barclays Betty Jiang 40% 1-year accuracy 6 / 15 met price target | 14%upside $34 | Equal-Weight Upgraded | 2 Oct 2024 |
UBS Josh Silverstein 50% 1-year accuracy 21 / 42 met price target | 10%downside $27 | Sell Maintained | 18 Sept 2024 |
Morgan Stanley Devin McDermott 48% 1-year accuracy 11 / 23 met price target | 4%upside $31 | Underweight Maintained | 16 Sept 2024 |
Financial journalist opinion
Based on 3 articles about RRC published over the past 30 days