Harbor Investment Advisory LLC Invests $799,000 in Range Resources Co. (NYSE:RRC)

Harbor Investment Advisory LLC acquired a new stake in Range Resources Co. (NYSE:RRC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the oil and gas exploration company's stock, valued at approximately $799,000.

Several other hedge funds have also recently added to or reduced their stakes in RRC. Fuller & Thaler Asset Management Inc. grew its position in shares of Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after purchasing an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Range Resources during the 4th quarter worth approximately $33,684,000. Amundi lifted its stake in Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after buying an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Range Resources by 37.1% during the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after buying an additional 605,315 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RRC. Mizuho upped their price objective on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Truist Financial boosted their target price on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research note on Monday, March 17th. Williams Trading set a $40.00 price target on shares of Range Resources in a research note on Wednesday, March 5th. Barclays lowered their price target on shares of Range Resources from $43.00 to $39.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Finally, Raymond James upped their price objective on shares of Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.95.

Insider Transactions at Range Resources

In other news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction that occurred 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 sale, the director now owns 54,394 shares in the company, valued at $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reginal Spiller sold 4,200 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the sale, the director now directly owns 13,663 shares of the company's stock, valued at approximately $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 sold 76,080 shares of company stock valued at $2,984,479 over the last quarter. Company insiders own 1.00% of the company's stock.

Range Resources Trading Up 2.6%

Shares of NYSE RRC traded up $0.98 during midday trading on Friday, hitting $38.38. The stock had a trading volume of 2,078,034 shares, compared to its average volume of 2,494,361. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 5.11 and a beta of 0.60. The company has a fifty day moving average price of $36.42 and a 200 day moving average price of $37.03.

Range Resources Dividend Announcement

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