Calamos Advisors LLC Boosts Position in Range Resources Corporation (NYSE:RRC)

Calamos Advisors LLC grew its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 187.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,239 shares of the oil and gas exploration company's stock after buying an additional 29,483 shares during the period. Calamos Advisors LLC's holdings in Range Resources were worth $1,806,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in Range Resources by 87.1% during 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. Bessemer Group Inc. lifted its stake in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at about $42,000. Fifth Third Bancorp raised its position in Range Resources by 20.6% during the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after acquiring an additional 355 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Range Resources by 124.9% during the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock worth $103,000 after acquiring an additional 1,434 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Performance

NYSE RRC traded up $0.16 on Monday, reaching $38.78. The stock had a trading volume of 3,154,411 shares, compared to its average volume of 2,519,096. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a fifty day moving average of $39.03 and a two-hundred day moving average of $37.86. Range Resources Corporation has a 1-year low of $27.29 and a 1-year high of $43.50. The company has a market cap of $9.27 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 0.30 and a beta of 0.63.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Range Resources's dividend payout ratio (DPR) is 32.14%.

Insider Activity at Range Resources

In related 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 transaction of $168,672.00. Following the completion of the sale, the director owned 13,663 shares of the company's stock, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the firm'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 value of $1,449,057.00. Following the sale, the chief executive officer directly owned 58,431 shares of the company's stock, valued at $2,361,781.02. This represents a 38.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,080 shares of company stock valued at $2,984,479 over the last ninety days. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RRC. UBS Group lifted their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Piper Sandler lifted their price target on shares of Range Resources from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley set a $41.00 price target on shares of Range Resources in a report on Tuesday, April 15th. Susquehanna lowered their price target 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, Stephens reiterated an "overweight" rating and set a $49.00 price target on shares of Range Resources in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Range Resources has a consensus rating of "Hold" and an average target price of $42.20.

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.