Diversify Advisory Services LLC Buys New Shares in Range Resources Corporation (NYSE:RRC)

Diversify Advisory Services LLC bought a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,279 shares of the oil and gas exploration company's stock, valued at approximately $291,000.

Several other large investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares during the last quarter. Xponance Inc. lifted its stake in Range Resources by 4.6% in the fourth quarter. Xponance Inc. now owns 27,186 shares of the oil and gas exploration company's stock valued at $978,000 after acquiring an additional 1,202 shares during the last quarter. American Century Companies Inc. lifted its stake in Range Resources by 7.9% in the fourth quarter. American Century Companies Inc. now owns 361,966 shares of the oil and gas exploration company's stock valued at $13,024,000 after acquiring an additional 26,526 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Range Resources during the 4th quarter worth about $1,795,000. Finally, LPL Financial LLC lifted its stake in shares of Range Resources by 23.2% during the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock worth $4,095,000 after buying an additional 21,440 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Down 2.4%

Shares of NYSE:RRC traded down $0.88 during mid-day trading on Friday, reaching $35.37. 2,169,993 shares of the company's stock were exchanged, compared to its average volume of 3,030,286. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.30 and a beta of 0.63. The business's fifty day moving average price is $39.16 and its 200-day moving average price is $38.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.55. Range Resources Corporation has a twelve month low of $27.29 and a twelve month high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the previous year, the company earned $0.46 EPS. On average, research analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. Range Resources's dividend payout ratio (DPR) is currently 18.09%.

Insider Transactions at Range Resources

In other news, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the transaction, the senior vice president owned 13,800 shares in the company, valued at approximately $560,556. The trade was a 40.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the transaction, the chief executive officer owned 58,431 shares in the company, valued at $2,361,781.02. The trade was a 38.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,080 shares of company stock worth $2,984,479. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RRC. Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Bank of America lifted their price objective on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Barclays raised their target price on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Finally, Mizuho raised their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday. Two 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $43.11.

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.