D.A. Davidson & CO. Makes New $612,000 Investment in Range Resources Corporation (NYSE:RRC)

D.A. Davidson & CO. bought a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 15,331 shares of the oil and gas exploration company's stock, valued at approximately $612,000.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Range Resources by 87.1% in 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 buying an additional 471 shares during the last quarter. Bessemer Group Inc. raised its position in Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after buying an additional 315 shares during the last quarter. Headlands Technologies LLC purchased a new position in Range Resources in the 4th quarter worth about $42,000. Fifth Third Bancorp raised its position in Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after buying an additional 355 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Range Resources by 124.9% during the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after purchasing an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Trading Up 1.3%

NYSE:RRC traded up $0.48 during midday trading on Friday, hitting $38.14. 514,541 shares of the company traded hands, compared to its average volume of 2,529,374. The firm's fifty day moving average is $39.31 and its 200-day moving average is $37.92. Range Resources Corporation has a 12-month low of $27.29 and a 12-month high of $43.50. The firm has a market capitalization of $9.12 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.31 and a beta of 0.63. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.28.

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

Insider Activity at Range Resources

In related news, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the sale, the senior vice president owned 13,800 shares in the company, valued at approximately $560,556. This represents a 40.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the stock in a transaction on 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 owned 54,394 shares in the company, valued at $1,905,421.82. The trade was a 19.98% 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 worth $2,984,479 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

RRC has been the subject of several research reports. Piper Sandler upped their price target on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Truist Financial upped their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research report on Monday, March 17th. Roth Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Mizuho boosted their price objective on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Finally, Barclays upped their price target on Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $42.58.

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.