Inscription Capital LLC Buys Shares of 12,060 Range Resources Corporation (NYSE:RRC)

Inscription Capital LLC bought a new stake in Range Resources Corporation (NYSE:RRC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,060 shares of the oil and gas exploration company's stock, valued at approximately $482,000.

A number of other large investors also recently made changes to their positions in the business. Fifth Third Bancorp increased its stake 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 worth $83,000 after purchasing an additional 355 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after purchasing an additional 378 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Range Resources by 2.8% during 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 buying an additional 379 shares during the last quarter. King Luther Capital Management Corp increased its position in Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock worth $1,130,000 after buying an additional 390 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Range Resources by 0.6% during the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RRC. Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upgraded Range Resources from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $43.00 to $45.00 in a report on Thursday, March 13th. Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Piper Sandler lifted their price target on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Stephens restated an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $41.95.

Range Resources Stock Performance

NYSE:RRC opened at $42.29 on Wednesday. The firm's 50-day moving average is $37.18 and its 200-day moving average is $37.27. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 0.32 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources Corporation has a 52-week low of $27.29 and a 52-week high of $42.53.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.85%. Range Resources's dividend payout ratio is 32.14%.

Insider Activity at Range Resources

In other Range Resources news, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares in the company, valued at approximately $1,905,421.82. This trade represents a 19.98% decrease in their position. The sale 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 the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the sale, the vice president now owns 1,723 shares in the company, valued at approximately $67,197. This represents a 88.20% 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 worth $2,984,479 over the last three months. Company insiders own 1.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.