Doliver Advisors LP Takes $315,000 Position in Range Resources Co. (NYSE:RRC)

Doliver Advisors LP bought a new stake in shares of Range Resources Co. (NYSE:RRC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,900 shares of the oil and gas exploration company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RRC. Smartleaf Asset Management LLC grew its holdings 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 valued at $37,000 after buying an additional 471 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Range Resources during the fourth quarter worth $42,000. Geneos Wealth Management Inc. acquired a new stake in Range Resources during the fourth quarter worth $46,000. Quent Capital LLC raised its position in Range Resources by 72.0% in the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock valued at $78,000 after purchasing an additional 912 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Range Resources by 105.2% in the 4th quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company's stock valued at $100,000 after purchasing an additional 1,429 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. Stephens reissued an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a research note on Wednesday, April 23rd. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $41.00 to $42.00 in a report on Tuesday, April 8th. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $41.95.

Range Resources Stock Performance

Shares of Range Resources stock traded up $0.16 on Tuesday, hitting $39.08. The stock had a trading volume of 1,810,071 shares, compared to its average volume of 2,479,850. The company's 50 day moving average price is $36.54 and its 200 day moving average price is $36.96. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 5.11 and a beta of 0.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. Range Resources's payout ratio is 32.14%.

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the transaction, the director now directly owns 13,663 shares in the company, valued at $548,706.08. This trade represents a 23.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James M. Funk sold 13,582 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the transaction, the director now directly owns 54,394 shares in the company, valued at $1,905,421.82. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,080 shares of company stock worth $2,984,479. Company 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.