Advisor Resource Council Takes $622,000 Position in Range Resources Corporation (NYSE:RRC)

Advisor Resource Council purchased a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,585 shares of the oil and gas exploration company's stock, valued at approximately $622,000.

Other hedge funds have also recently made changes to their positions in the company. Riverwater Partners LLC bought a new position in shares of Range Resources during the 1st quarter worth approximately $1,432,000. ORG Wealth Partners LLC purchased a new position in Range Resources in the first quarter worth $133,000. Builder Investment Group Inc. ADV grew its holdings in Range Resources by 100.9% in 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 purchasing an additional 41,835 shares during the last quarter. State of Alaska Department of Revenue increased its position 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 worth $1,129,000 after purchasing an additional 765 shares in the last quarter. Finally, Lesa Sroufe & Co purchased a new stake in shares of Range Resources during the 1st quarter valued at $3,782,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

NYSE RRC traded down $0.83 on Wednesday, reaching $41.10. 1,977,258 shares of the company's stock traded hands, compared to its average volume of 2,512,916. Range Resources Corporation has a fifty-two week low of $27.29 and a fifty-two week high of $43.50. 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 market cap of $9.82 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 0.33 and a beta of 0.63. The stock has a 50 day moving average price of $38.08 and a 200-day moving average price of $37.54.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction 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 completion of the transaction, the director now owns 13,663 shares of the company's stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James M. Funk sold 13,582 shares of the stock in a transaction dated 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 directly owns 54,394 shares in the company, valued at approximately $1,905,421.82. The trade was a 19.98% 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 over the last quarter. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RRC shares. Susquehanna dropped their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial raised their price target on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Monday, March 17th. Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 price objective on shares of Range Resources in a report on Friday, April 11th. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. Finally, Raymond James Financial lifted their target price on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.95.

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.