Congress Asset Management Co. Grows Holdings in Range Resources Co. (NYSE:RRC)

Congress Asset Management Co. raised its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 11.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,486 shares of the oil and gas exploration company's stock after acquiring an additional 63,390 shares during the quarter. Congress Asset Management Co. owned about 0.26% of Range Resources worth $24,896,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RRC. LPL Financial LLC raised its holdings in shares of 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 valued at $4,095,000 after purchasing an additional 21,440 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Range Resources in the fourth quarter valued at approximately $380,000. Sanctuary Advisors LLC grew its stake in Range Resources by 169.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company's stock valued at $674,000 after acquiring an additional 11,276 shares during the period. Rhumbline Advisers increased its holdings in shares of Range Resources by 1.6% during the fourth quarter. Rhumbline Advisers now owns 663,320 shares of the oil and gas exploration company's stock valued at $23,866,000 after acquiring an additional 10,401 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Range Resources during the fourth quarter worth approximately $256,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and raised their price objective for the company from $41.00 to $42.00 in a research note on Tuesday, April 8th. Morgan Stanley set a $41.00 price target on shares of Range Resources in a research report on Tuesday, April 15th. Truist Financial boosted their price objective on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Monday, March 17th. Citigroup lowered Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Finally, Williams Trading set a $40.00 target price on Range Resources in a research report on Wednesday, March 5th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $41.95.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction dated 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 transaction, the director now owns 13,663 shares of the company's stock, valued at $548,706.08. The trade was a 23.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Funk sold 13,582 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total value of $475,777.46. Following the sale, the director now owns 54,394 shares in the company, valued at approximately $1,905,421.82. This represents 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 valued at $2,984,479 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Range Resources Stock Performance

Shares of NYSE RRC traded up $0.62 during trading on Wednesday, reaching $39.35. 1,372,720 shares of the stock traded hands, compared to its average volume of 2,500,745. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $9.40 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 5.11 and a beta of 0.63. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a 50-day moving average of $36.40 and a 200-day moving average of $37.09.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Range Resources's dividend payout ratio is 32.14%.

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.