26,418 Shares in Range Resources Corporation (NYSE:RRC) Purchased by Diversified Trust Co

Diversified Trust Co purchased a new stake in Range Resources Corporation (NYSE:RRC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,418 shares of the oil and gas exploration company's stock, valued at approximately $1,055,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. raised its position in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Smartleaf Asset Management LLC raised its position in 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 valued at $37,000 after purchasing an additional 471 shares in the last quarter. Headlands Technologies LLC acquired a new position in Range Resources during the fourth quarter valued at approximately $42,000. Fifth Third Bancorp raised its position in Range Resources by 20.6% during the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Range Resources by 124.9% during the first 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 in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Range Resources

In other news, SVP Erin W. Mcdowell sold 9,568 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the transaction, the senior vice president now owns 13,800 shares in the company, valued at approximately $560,556. This represents a 40.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the vice president now owns 1,723 shares in the company, valued at $67,197. This represents 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 valued at $2,984,479. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on RRC shares. Susquehanna lowered their price objective on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 price objective on shares of Range Resources in a research report on Friday, April 11th. Piper Sandler boosted their price objective 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. Finally, Stephens reaffirmed an "overweight" rating and set a $49.00 target price on shares of Range Resources in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.95.

Range Resources Trading Up 0.7%

Shares of Range Resources stock traded up $0.31 during trading on Friday, hitting $41.22. The company's stock had a trading volume of 2,275,365 shares, compared to its average volume of 2,501,236. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The stock has a 50-day moving average price of $38.50 and a two-hundred day moving average price of $37.67.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given 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 0.87%. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

Range Resources Company 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.