Range Resources Corporation (NYSE:RRC) Holdings Raised by Mariner Investment Group LLC

Mariner Investment Group LLC boosted its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 88.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,000 shares of the oil and gas exploration company's stock after buying an additional 40,000 shares during the quarter. Range Resources makes up approximately 1.3% of Mariner Investment Group LLC's portfolio, making the stock its 7th largest holding. Mariner Investment Group LLC's holdings in Range Resources were worth $3,394,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC lifted its holdings in shares of Range Resources by 5.7% in the first quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company's stock worth $266,000 after buying an additional 360 shares in the last quarter. Financial Harvest LLC purchased a new stake in shares of Range Resources in the first quarter worth about $415,000. Diversify Advisory Services LLC purchased a new stake in shares of Range Resources in the first quarter worth about $291,000. Hollencrest Capital Management purchased a new stake in shares of Range Resources in the first quarter worth about $33,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Range Resources in the first quarter worth about $39,000. Institutional investors own 98.93% of the company's stock.

Insider Activity at Range Resources

In other news, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total value of $502,320.00. Following the sale, the vice president directly owned 1,723 shares of the company's stock, valued at $67,197. The trade was a 88.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reginal Spiller sold 4,200 shares of the business's 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. This trade represents a 23.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,080 shares of company stock valued at $2,984,479 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Range Resources Stock Performance

Shares of NYSE:RRC traded down $0.16 during mid-day trading on Wednesday, reaching $35.49. 3,598,200 shares of the company traded hands, compared to its average volume of 2,572,037. The company's 50 day moving average price is $39.43 and its 200-day moving average price is $38.06. The firm has a market cap of $8.48 billion, a PE ratio of 31.51, a PEG ratio of 0.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.10% and a net margin of 11.02%. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same quarter last year, the firm posted $0.46 earnings per share. On average, equities analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is currently 32.14%.

Analysts Set New Price Targets

RRC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Raymond James Financial lifted their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. UBS Group raised their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and lifted their price target for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned 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, the stock presently has a consensus rating of "Hold" and an average price target of $42.95.

About Range Resources

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.