Congress Asset Management Co. Has $24.90 Million Stock Position in Range Resources Co. (NYSE:RRC)

Congress Asset Management Co. grew its position in Range Resources Co. (NYSE:RRC - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 623,486 shares of the oil and gas exploration company's stock after buying an additional 63,390 shares during the quarter. Congress Asset Management Co. owned approximately 0.26% of Range Resources worth $24,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after purchasing an additional 378 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock worth $508,000 after purchasing an additional 379 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock worth $1,130,000 after purchasing an additional 390 shares during the period. Arizona State Retirement System boosted its holdings in shares of Range Resources by 0.6% during the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock worth $2,528,000 after purchasing an additional 395 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Range Resources by 87.1% during the fourth 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. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RRC has been the subject of several research reports. Stephens restated an "overweight" rating and set a $49.00 price target on shares of Range Resources in a report on Wednesday, April 23rd. Williams Trading set a $40.00 price target on shares of Range Resources in a report on Wednesday, March 5th. Raymond James raised their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Citigroup lowered shares of Range Resources from a "neutral" rating to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Bank of America raised their price objective on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.95.

Range Resources Trading Up 2.6%

NYSE:RRC opened at $38.38 on Friday. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 5.11 and a beta of 0.63. 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 company's 50 day moving average is $36.42 and its 200-day moving average is $37.05.

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 paid a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Range Resources's payout ratio is 32.14%.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 4,200 shares of the firm's 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 sale, the director now owns 13,663 shares in the company, valued at approximately $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's 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 completion of the sale, the vice president now owns 1,723 shares in the company, valued at approximately $67,197. The trade was a 88.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,080 shares of company stock worth $2,984,479. 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.

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