Wellington Management Group LLP Takes $33.68 Million Position in Range Resources Co. (NYSE:RRC)

Wellington Management Group LLP acquired a new stake in Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 936,192 shares of the oil and gas exploration company's stock, valued at approximately $33,684,000. Wellington Management Group LLP owned about 0.39% of Range Resources as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RRC. Barclays PLC boosted its position in shares of Range Resources by 180.8% in the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after purchasing an additional 142,938 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Range Resources in the 4th quarter valued at approximately $304,000. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources in the 4th quarter valued at approximately $46,000. Blue Trust Inc. increased its stake in Range Resources by 152.1% in the 4th quarter. Blue Trust Inc. now owns 3,426 shares of the oil and gas exploration company's stock valued at $123,000 after purchasing an additional 2,067 shares in the last quarter. Finally, KBC Group NV increased its stake in Range Resources by 44.3% in the 4th quarter. KBC Group NV now owns 9,659 shares of the oil and gas exploration company's stock valued at $348,000 after purchasing an additional 2,963 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RRC shares. Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. UBS Group raised their price objective on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Bank of America raised their price objective on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised Range Resources from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $43.00 to $45.00 in a research note on Thursday, March 13th. Finally, Susquehanna dropped their price objective on Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $41.95.

Range Resources Trading Down 3.5%

Shares of RRC stock traded down $1.36 during mid-day trading on Wednesday, hitting $37.68. 1,265,589 shares of the company's stock were exchanged, compared to its average volume of 2,476,127. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The stock has a 50-day simple moving average of $36.54 and a two-hundred day simple moving average of $36.98. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 5.11 and a beta of 0.60.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.96%. Range Resources's dividend payout ratio is currently 32.14%.

Insiders Place Their Bets

In other Range Resources news, 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 transaction of $1,449,057.00. Following the completion of the sale, the chief executive officer now directly owns 58,431 shares in the company, valued at $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the sale, the director now owns 54,394 shares of the company's stock, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,080 shares of company stock worth $2,984,479 over the last ninety days. 1.00% of the stock is owned by company insiders.

About Range Resources

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.