Lesa Sroufe & Co Takes $3.78 Million Position in Range Resources Co. (NYSE:RRC)

Lesa Sroufe & Co bought a new stake in Range Resources Co. (NYSE:RRC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 94,723 shares of the oil and gas exploration company's stock, valued at approximately $3,782,000. Range Resources makes up 3.8% of Lesa Sroufe & Co's holdings, making the stock its 9th largest position.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after buying an additional 471 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Range Resources during the 4th quarter worth $42,000. Fifth Third Bancorp grew its position in 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. UMB Bank n.a. grew its position in 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 worth $103,000 after purchasing an additional 1,434 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Range Resources by 105.2% in the fourth quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company's stock valued at $100,000 after purchasing an additional 1,429 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RRC shares. Citigroup lowered Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and lifted their target price for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $42.00 price objective on shares of Range Resources in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and a consensus target price of $41.95.

Range Resources Trading Up 1.3%

Shares of RRC stock traded up $0.55 during trading hours on Tuesday, hitting $42.29. 2,785,153 shares of the company were exchanged, compared to its average volume of 2,528,972. The firm has a fifty day moving average of $37.03 and a 200 day moving average of $37.24. 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 $42.66. The firm has a market cap of $10.11 billion, a PE ratio of 21.36, a PEG ratio of 5.11 and a beta of 0.63.

Range Resources Announces Dividend

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

Insider Activity at Range Resources

In related news, Director James M. Funk sold 13,582 shares of the stock in a transaction 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 directly owns 54,394 shares in the company, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reginal Spiller sold 4,200 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the transaction, the director now directly owns 13,663 shares in the company, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,080 shares of company stock worth $2,984,479. 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.