Advisor Resource Council Makes New $622,000 Investment in Range Resources Corporation (NYSE:RRC)

Advisor Resource Council 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 15,585 shares of the oil and gas exploration company's stock, valued at approximately $622,000.

A number of other institutional investors also recently bought and sold shares of RRC. Blue Trust Inc. raised its position in 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 worth $100,000 after buying an additional 1,429 shares during the last quarter. Sanctuary Advisors LLC raised its position in Range Resources by 169.1% during the 4th quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company's stock worth $674,000 after buying an additional 11,276 shares during the last quarter. CIBC Asset Management Inc raised its position in Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after buying an additional 378 shares during the last quarter. Truist Financial Corp raised its position in Range Resources by 0.7% during the 4th quarter. Truist Financial Corp now owns 207,430 shares of the oil and gas exploration company's stock worth $7,463,000 after buying an additional 1,359 shares during the last quarter. Finally, Winebrenner Capital Management LLC purchased a new position in Range Resources during the 4th quarter worth approximately $288,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Trading Up 1.5%

Shares of RRC opened at $43.20 on Friday. Range Resources Corporation has a 52-week low of $27.29 and a 52-week high of $43.33. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average is $37.75 and its two-hundred day moving average is $37.43. The stock has a market cap of $10.32 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 0.34 and a beta of 0.63.

Range Resources Announces Dividend

The firm also recently announced 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 0.83%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RRC. Barclays cut their target price on shares of Range Resources from $43.00 to $39.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Bank of America lifted their target price on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $43.00 to $45.00 in a report on Thursday, March 13th. Susquehanna cut their target price on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Piper Sandler lifted their target price on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources presently has an average rating of "Hold" and a consensus price target of $41.95.

Insiders Place Their Bets

In other Range Resources news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction on Tuesday, May 6th. The shares were 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 $1,905,421.82. The trade was a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the sale, the vice president now directly owns 1,723 shares in the company, valued at approximately $67,197. This trade represents a 88.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,080 shares of company stock valued at $2,984,479 in the last 90 days. 1.00% of the stock is owned by 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.

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