Financial Harvest LLC Acquires New Holdings in Range Resources Corporation (NYSE:RRC)

Financial Harvest LLC bought a new stake in Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 10,393 shares of the oil and gas exploration company's stock, valued at approximately $415,000. Range Resources makes up approximately 0.3% of Financial Harvest LLC's portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in RRC. LPL Financial LLC boosted its holdings in Range Resources by 23.2% in the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after purchasing an additional 21,440 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Range Resources by 98.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock valued at $720,000 after buying an additional 8,941 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Range Resources by 24.5% in the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock valued at $15,249,000 after buying an additional 83,353 shares during the last quarter. Advisor Resource Council purchased a new stake in Range Resources in the first quarter valued at approximately $622,000. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Range Resources by 1.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock valued at $57,803,000 after buying an additional 25,403 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,880 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $39.00, for a total value of $502,320.00. Following the completion of the transaction, the vice president directly owned 1,723 shares of the company's stock, valued at approximately $67,197. The trade was a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total value of $388,652.16. Following the transaction, the senior vice president directly owned 13,800 shares in the company, valued at approximately $560,556. This trade represents a 40.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RRC has been the subject of several analyst reports. Barclays upped their price target on Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Morgan Stanley set a $41.00 price target on Range Resources in a research note on Tuesday, April 15th. UBS Group increased their price objective on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Mizuho upped their target price on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Finally, Stephens reissued an "overweight" rating and issued a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $42.79.

Range Resources Price Performance

NYSE RRC opened at $38.26 on Friday. The stock has a 50-day simple moving average of $39.60 and a 200 day simple moving average of $38.05. 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 market capitalization of $9.14 billion, a PE ratio of 34.16, a P/E/G ratio of 0.32 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 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 annualized dividend and a dividend yield of 0.94%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

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.

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