Requisite Capital Increases Range Resources Stake by $4.76 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Increased Holdings: Requisite Capital Management increased its stake in Range Resources by 147,197 shares in Q3, investing approximately $4.76 million, bringing total holdings to 406,232 shares valued at $15.29 million, indicating strong confidence in the company.
- Asset Allocation: This increase positions Range Resources as the fifth-largest holding in the fund, representing 2.57% of its reportable AUM, reflecting a strategic focus on the energy sector.
- Cash Flow Performance: Range Resources generated $248 million in operating cash flow in Q3 while maintaining net debt near $1.2 billion, showcasing its financial resilience despite volatile natural gas prices.
- Shareholder Returns: The company executed $56 million in share repurchases and $21 million in dividends during Q3, demonstrating a proactive approach to maintaining shareholder returns amid market challenges.
RRC
$34.83+Infinity%1D
Analyst Views on RRC
Wall Street analysts forecast RRC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RRC is 42.29 USD with a low forecast of 36.00 USD and a high forecast of 47.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
5 Buy
12 Hold
0 Sell
Moderate Buy
Current: 34.510
Low
36.00
Averages
42.29
High
47.00
Current: 34.510
Low
36.00
Averages
42.29
High
47.00
About RRC
Range Resources Corporation is an independent natural gas and natural gas liquids (NGLs) producer. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian region of the United States. Its principal area of operations is the Marcellus Shale in Pennsylvania. Its properties consist of interests in developed and undeveloped natural gas and oil leases. It owns approximately 1,431 net producing wells in Pennsylvania. It holds a portfolio of drilling opportunities and unbooked resource potential within the Marcellus, Utica/Point Pleasant and Upper Devonian formations. Its exploration and production operations are limited to the onshore United States. It has approximately 871,000 gross (763,000 net) acres under lease. Its subsidiaries include Range Resources-Appalachia, LLC, Range Resources-Pine Mountain, LLC, Range Production Company, LLC, Range Resources-Midcontinent, LLC and Range Resources-Louisiana, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
