FMR LLC & Abigail Johnson Hold 14.688% Stake in Range Resources
Ticker: RRC · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 315852
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment, energy
TL;DR
**FMR LLC and Abigail Johnson still own 14.688% of Range Resources, a big passive stake.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Range Resources Corp (RRC) as of February 9, 2024. They now collectively beneficially own 35,444,454 shares of common stock, representing 14.688% of the company. This filing indicates a significant, but not controlling, passive investment by FMR LLC, which is important for investors to know as large institutional holdings can influence stock stability and investor confidence.
Why It Matters
Large institutional ownership by firms like FMR LLC can provide stability to a stock, as these investors typically have a long-term view and conduct extensive due diligence. For Range Resources shareholders, this indicates a significant vote of confidence from a major financial player.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for the stock.
Analyst Insight
Investors should note the continued significant institutional ownership by FMR LLC, which suggests a long-term, passive investment strategy. This could be a positive signal for stability but doesn't imply any immediate operational changes or activist involvement.
Key Numbers
- 35,444,454 — Shares Beneficially Owned (Represents the total common stock shares of Range Resources Corp held by FMR LLC and Abigail P. Johnson.)
- 14.688% — Percent of Class (Indicates the significant portion of Range Resources Corp's common stock owned by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- RANGE RESOURCES CORP (company) — the issuer of the securities
- 35,444,454 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 14.688% (dollar_amount) — percentage of class owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- FMR LLC will maintain a significant, passive stake in Range Resources Corp for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09
FAQ
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of shares of Range Resources Corp common stock beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each beneficially own 35,444,454 shares of Range Resources Corp common stock, as detailed in Item 7 for both reporting persons and Item 4(a) for FMR LLC.
What percentage of Range Resources Corp's common stock do FMR LLC and Abigail P. Johnson collectively own?
Both FMR LLC and Abigail P. Johnson are reported to own 14.688% of the class of Range Resources Corp common stock, as shown in Item 11 for both reporting persons and Item 4(b) for FMR LLC.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and explicitly stated in Item 3.
What is the CUSIP number for Range Resources Corp's common stock?
The CUSIP number for Range Resources Corp's common stock is 75281A109, as listed under 'Cusip #75281A109' and in Item 2(e).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding RANGE RESOURCES CORP (RRC).