35,868 Shares in Range Resources Corporation (NYSE:RRC) Purchased by Riverwater Partners LLC

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

A number of other large investors also recently bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in Range Resources during the 1st quarter valued at about $133,000. Builder Investment Group Inc. ADV increased its position in shares of Range Resources by 100.9% during the first quarter. Builder Investment Group Inc. ADV now owns 83,295 shares of the oil and gas exploration company's stock worth $3,326,000 after acquiring an additional 41,835 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Range Resources by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 28,276 shares of the oil and gas exploration company's stock valued at $1,129,000 after acquiring an additional 765 shares in the last quarter. Lesa Sroufe & Co bought a new stake in shares of Range Resources during the first quarter valued at approximately $3,782,000. Finally, Inscription Capital LLC purchased a new stake in shares of Range Resources in the first quarter valued at approximately $482,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. UBS Group lifted their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 target price on shares of Range Resources in a report on Friday, April 11th. Finally, Barclays cut their price target on Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $41.95.

Range Resources Stock Performance

Shares of RRC traded up $0.63 during trading hours on Friday, hitting $43.20. The stock had a trading volume of 3,028,973 shares, compared to its average volume of 2,534,199. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 0.34 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average price of $37.55 and a 200 day moving average price of $37.36. Range Resources Corporation has a fifty-two week low of $27.29 and a fifty-two week high of $43.32.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, June 13th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Activity

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

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.