Jefferies Financial Group Inc. Raises Stock Position in Range Resources Corporation (NYSE:RRC)

Jefferies Financial Group Inc. lifted its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 21.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 968,759 shares of the oil and gas exploration company's stock after acquiring an additional 173,785 shares during the quarter. Jefferies Financial Group Inc. owned 0.41% of Range Resources worth $38,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of Range Resources in the first quarter worth $33,000. Bessemer Group Inc. boosted its holdings in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after buying an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Range Resources during the first quarter worth $39,000. Headlands Technologies LLC purchased a new stake in Range Resources during the fourth quarter worth $42,000. Finally, Fifth Third Bancorp boosted its holdings in Range Resources by 20.6% during the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after buying an additional 355 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Range Resources from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Roth Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Bank of America increased their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Morgan Stanley set a $41.00 price target on shares of Range Resources in a report on Tuesday, April 15th. Finally, Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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 MarketBeat.com, Range Resources has a consensus rating of "Hold" and a consensus target price of $43.37.

Range Resources Price Performance

RRC traded down $1.13 during midday trading on Friday, hitting $35.59. 2,578,771 shares of the company traded hands, compared to its average volume of 2,923,468. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.29 and a beta of 0.60. Range Resources Corporation has a 52-week low of $27.29 and a 52-week high of $43.50. The business has a 50 day simple moving average of $38.84 and a two-hundred day simple moving average of $37.96.

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

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is 18.09%.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 12,880 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $39.00, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the sale, the senior vice president owned 13,800 shares of the company's stock, valued at $560,556. This trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,080 shares of company stock valued at $2,984,479. Corporate 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.