Diversify Advisory Services LLC Takes Position in Range Resources Corporation (NYSE:RRC)

Diversify Advisory Services LLC purchased a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,279 shares of the oil and gas exploration company's stock, valued at approximately $291,000.

A number of other large investors have also made changes to their positions in RRC. Bessemer Group Inc. boosted its holdings in Range Resources by 48.0% in 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 during the last quarter. Xponance Inc. grew its holdings in Range Resources by 1.2% during the 1st quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock worth $1,099,000 after acquiring an additional 326 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after purchasing an additional 355 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in 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. Finally, State of Michigan Retirement System boosted its holdings in Range Resources by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 57,786 shares of the oil and gas exploration company's stock worth $2,307,000 after acquiring an additional 600 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Trading Down 7.8%

Range Resources stock opened at $35.30 on Tuesday. Range Resources Corporation has a one year low of $27.29 and a one year high of $43.50. The stock has a market cap of $8.44 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50-day moving average of $39.60 and a two-hundred day moving average of $38.08.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is currently 32.14%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho upped their price target on shares of Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Raymond James Financial upped their target price 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. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, Bank of America boosted their target price on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $42.79.

Insider Activity at Range Resources

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the sale, the director directly owned 13,663 shares of the company's stock, valued at approximately $548,706.08. This represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer owned 58,431 shares of the company's stock, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is currently owned by company insiders.

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.

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