Range Resources Corporation (NYSE:RRC) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC reduced its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 14.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,489 shares of the oil and gas exploration company's stock after selling 20,470 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.05% of Range Resources worth $4,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its holdings in shares of 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 worth $39,000 after buying an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Range Resources during the first quarter worth about $39,000. Headlands Technologies LLC purchased a new stake in shares of Range Resources during the fourth quarter worth about $42,000. Fifth Third Bancorp boosted 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 acquiring an additional 355 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Range Resources by 124.9% in the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock worth $103,000 after acquiring an additional 1,434 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $41.00 target price on shares of Range Resources in a research report on Tuesday, April 15th. Piper Sandler raised their target price on shares of Range Resources from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. UBS Group raised their target price 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. Raymond James Financial raised their target price on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $42.79.

Insider Activity

In other Range Resources news, 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reginal Spiller sold 4,200 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the transaction, the director directly owned 13,663 shares of the company's stock, valued at $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock valued at $2,984,479 over the last quarter. 1.00% of the stock is owned by company insiders.

Range Resources Stock Up 1.0%

Shares of NYSE RRC traded up $0.37 during trading on Thursday, reaching $38.21. 2,464,597 shares of the stock were exchanged, compared to its average volume of 2,545,172. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28. The business's 50-day moving average price is $39.59 and its 200 day moving average price is $38.04. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63. Range Resources Corporation has a twelve month low of $27.29 and a twelve month high of $43.50.

Range Resources Announces Dividend

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

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.