Easterly Investment Partners LLC Sells 20,470 Shares of Range Resources Corporation (NYSE:RRC)

Easterly Investment Partners LLC cut its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,489 shares of the oil and gas exploration company's stock after selling 20,470 shares during the period. Easterly Investment Partners LLC owned 0.05% of Range Resources worth $4,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. bought a new stake in Range Resources in the first quarter valued at approximately $39,000. Sigma Planning Corp bought a new stake in Range Resources in the first quarter valued at approximately $347,000. CWM LLC increased its stake in Range Resources by 795.6% in the first quarter. CWM LLC now owns 12,780 shares of the oil and gas exploration company's stock valued at $510,000 after purchasing an additional 11,353 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Range Resources by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 67,600 shares of the oil and gas exploration company's stock valued at $2,699,000 after purchasing an additional 600 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in Range Resources in the first quarter valued at approximately $201,000. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RRC has been the subject of several research reports. Mizuho increased their price objective on shares of Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. UBS Group increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Stephens restated an "overweight" rating and set a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. Finally, Raymond James Financial increased 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. 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.com, Range Resources has a consensus rating of "Hold" and a consensus target price of $42.79.

Range Resources Price Performance

Shares of Range Resources stock traded up $0.08 during midday trading on Friday, hitting $38.26. 2,286,511 shares of the company traded hands, compared to its average volume of 2,548,136. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 34.16, a PEG 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 firm's fifty day moving average price is $39.60 and its 200-day moving average price is $38.08. Range Resources Corporation has a 12 month low of $27.29 and a 12 month high of $43.50.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. Range Resources's payout ratio is presently 32.14%.

Insider Activity at Range Resources

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the company'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 approximately $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the transaction, the director owned 54,394 shares in the company, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock worth $2,984,479 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

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.