Financial Harvest LLC Acquires Shares of 10,393 Range Resources Corporation (NYSE:RRC)

Financial Harvest LLC purchased a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,393 shares of the oil and gas exploration company's stock, valued at approximately $415,000. Range Resources accounts for 0.3% of Financial Harvest LLC's investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds have also modified their holdings of RRC. Proficio Capital Partners LLC bought a new position in shares of Range Resources in the fourth quarter worth approximately $1,192,000. Commonwealth Equity Services LLC boosted its position in shares of 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 worth $508,000 after purchasing an additional 379 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Range Resources by 10.4% in the fourth quarter. Natixis Advisors LLC now owns 143,370 shares of the oil and gas exploration company's stock worth $5,158,000 after buying an additional 13,491 shares in the last quarter. Xponance Inc. lifted its holdings in shares of 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 worth $978,000 after buying an additional 1,202 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of 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 worth $13,024,000 after buying an additional 26,526 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 sale, the director owned 13,663 shares of the company's stock, valued at approximately $548,706.08. This trade represents a 23.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction on Monday, May 12th. The shares were sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the sale, the vice president directly owned 1,723 shares in the company, valued at $67,197. This represents a 88.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Scotiabank set a $46.00 price target on shares of Range Resources and gave the stock a "sector perform" rating in a report on Friday, July 11th. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price target for the stock from $41.00 to $42.00 in a report on Tuesday, April 8th. Morgan Stanley set a $41.00 target price on shares of Range Resources in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned 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 a consensus rating of "Hold" and a consensus target price of $42.79.

Range Resources Stock Performance

Shares of NYSE RRC traded up $0.40 during midday trading on Tuesday, reaching $35.70. 3,464,475 shares of the stock were exchanged, compared to its average volume of 2,566,360. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 0.30 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. The firm has a 50-day simple moving average of $39.60 and a two-hundred day simple moving average of $38.08. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.01%. Range Resources's payout ratio is 32.14%.

About Range Resources

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.