12,000 Shares in Range Resources Corporation (NYSE:RRC) Purchased by Capital Management Associates NY

Capital Management Associates NY acquired a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,000 shares of the oil and gas exploration company's stock, valued at approximately $479,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RRC. LPL Financial LLC lifted its stake in Range Resources by 23.2% during the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock worth $4,095,000 after purchasing an additional 21,440 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Range Resources by 98.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock valued at $720,000 after acquiring an additional 8,941 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Range Resources by 24.5% in the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock worth $15,249,000 after purchasing an additional 83,353 shares in the last quarter. Advisor Resource Council purchased a new position in shares of Range Resources during the first quarter valued at about $622,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Range Resources in the 1st quarter worth about $612,000. Institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Piper Sandler raised their price objective on shares of Range Resources from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Scotiabank set a $46.00 price target on Range Resources and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Barclays increased their target price on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Finally, Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Range Resources has an average rating of "Hold" and a consensus price target of $43.37.

Range Resources Stock Up 0.5%

Range Resources stock traded up $0.18 during mid-day trading on Wednesday, reaching $36.67. The stock had a trading volume of 2,333,057 shares, compared to its average volume of 2,958,674. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 0.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources Corporation has a one year low of $27.29 and a one year high of $43.50. The company has a 50-day moving average price of $38.97 and a two-hundred day moving average price of $38.00.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. The business had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. During the same quarter last year, the business posted $0.46 EPS. On average, analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's dividend payout ratio (DPR) is 18.09%.

Insider Activity

In other news, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the sale, the vice president directly owned 1,723 shares in the company, valued at $67,197. This trade represents a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reginal Spiller sold 4,200 shares of the business's stock in a transaction that occurred 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 sale, the director owned 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 disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock valued at $2,984,479 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Range Resources 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.