D.A. Davidson & CO. Acquires Shares of 15,331 Range Resources Corporation (NYSE:RRC)

D.A. Davidson & CO. purchased a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,331 shares of the oil and gas exploration company's stock, valued at approximately $612,000.

Other large investors also recently modified their holdings of the company. Boston Partners raised its holdings in Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock worth $287,078,000 after acquiring an additional 371,777 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after purchasing an additional 624,955 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after buying an additional 2,104,304 shares during the last quarter. Northern Trust Corp grew its stake in shares of Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after buying an additional 605,315 shares in the last quarter. Finally, Sagefield Capital LP increased its holdings in Range Resources by 21.7% during the fourth quarter. Sagefield Capital LP now owns 1,312,689 shares of the oil and gas exploration company's stock worth $47,231,000 after buying an additional 233,906 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on RRC shares. Stephens reissued an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a research report on Wednesday, April 23rd. Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Susquehanna lowered their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. UBS Group raised their price objective on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $42.58.

Range Resources Stock Performance

NYSE RRC traded up $0.20 during trading on Thursday, reaching $37.67. The company's stock had a trading volume of 2,647,615 shares, compared to its average volume of 2,531,165. The firm has a 50 day moving average price of $39.24 and a 200 day moving average price of $37.90. 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 $9.00 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 0.32 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,880 shares of the company's stock in a transaction dated Monday, May 12th. The shares were 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 owned 1,723 shares of the company's stock, valued at $67,197. This represents a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James M. Funk sold 13,582 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,080 shares of company stock worth $2,984,479. 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.