Informed Momentum Co LLC Buys Shares of 89,538 Range Resources Corporation (NYSE:RRC)

Key Points

• Informed Momentum Co LLC has acquired a new stake in Range Resources Corporation, purchasing 89,538 shares valued at approximately $3,575,000 during the first quarter.
• The company announced a quarterly dividend of $0.09 per share, representing a 1.1% dividend yield, with a payout ratio of 18.09%.
• Recent analyst ratings indicate a consensus of "Hold" on Range Resources stock, with price targets ranging from $41.00 to $48.00 set by various research firms.

Informed Momentum Co LLC bought a new position in Range Resources Corporation (NYSE:RRC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 89,538 shares of the oil and gas exploration company's stock, valued at approximately $3,575,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in Range Resources in the 1st quarter worth about $33,000. Bessemer Group Inc. lifted its stake in Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Range Resources in the 1st quarter worth approximately $39,000. Fifth Third Bancorp raised its position in shares of Range Resources by 20.6% during the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after buying an additional 355 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Range Resources by 124.9% during the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after buying an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley set a $41.00 target price on shares of Range Resources in a report on Tuesday, April 15th. UBS Group lifted their price target on shares of Range Resources from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Susquehanna lifted their target price on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Stephens reaffirmed an "overweight" rating and issued a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. Finally, Scotiabank set a $46.00 price objective on shares of Range Resources and gave the company a "sector perform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $43.37.

Insider Activity

In related news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total value of $168,672.00. Following the transaction, the director directly owned 13,663 shares in the company, valued at $548,706.08. The trade was a 23.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company's stock.

Range Resources Trading Up 0.5%

Shares of NYSE RRC traded up $0.18 during midday trading on Wednesday, hitting $34.36. The stock had a trading volume of 2,126,828 shares, compared to its average volume of 2,804,458. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.27 and a beta of 0.60. Range Resources Corporation has a 1-year low of $27.55 and a 1-year high of $43.50. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $38.15 and a 200 day moving average price of $37.62.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. During the same period in the prior year, the business posted $0.46 EPS. On average, analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources's dividend payout ratio is currently 18.09%.

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.