Riverwater Partners LLC Makes New Investment in Range Resources Corporation (NYSE:RRC)

Riverwater Partners LLC bought a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 35,868 shares of the oil and gas exploration company's stock, valued at approximately $1,432,000.

Several other large investors have also added to or reduced their stakes in RRC. Smartleaf Asset Management LLC boosted its stake in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares during the period. Headlands Technologies LLC bought a new stake in shares of Range Resources during the 4th quarter valued at about $42,000. Fifth Third Bancorp boosted its position in shares of Range Resources by 20.6% during the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after acquiring an additional 355 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Range Resources by 105.2% during the 4th quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company's stock valued at $100,000 after acquiring an additional 1,429 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Range Resources by 124.9% during the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after acquiring an additional 1,434 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

RRC traded down $1.91 during midday trading on Monday, hitting $41.32. The stock had a trading volume of 2,895,383 shares, compared to its average volume of 2,520,568. The company has a market cap of $9.87 billion, a P/E ratio of 36.89, a price-to-earnings-growth ratio of 0.34 and a beta of 0.63. The business has a fifty day moving average of $37.91 and a 200 day moving average of $37.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources Corporation has a 1 year low of $27.29 and a 1 year high of $44.01.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.87%. Range Resources's payout ratio is currently 32.14%.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of research analyst reports. Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upgraded Range Resources from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. Morgan Stanley set a $41.00 price target on Range Resources in a research report on Tuesday, April 15th. Barclays dropped their price target on Range Resources from $43.00 to $39.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Finally, Stephens reiterated an "overweight" rating and set a $49.00 price target on shares of Range Resources in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Range Resources has a consensus rating of "Hold" and an average price target of $41.95.

Insider Buying and Selling at Range Resources

In related news, CEO Dennis Degner sold 35,850 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the completion of the transaction, the chief executive officer now owns 58,431 shares in the company, valued at $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the transaction, the director now owns 13,663 shares of the company's stock, valued at approximately $548,706.08. This represents a 23.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is currently owned by insiders.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.