Moran Wealth Management LLC Sells 6,967 Shares of Range Resources Corporation (NYSE:RRC)

Moran Wealth Management LLC cut its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 29.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,833 shares of the oil and gas exploration company's stock after selling 6,967 shares during the period. Moran Wealth Management LLC's holdings in Range Resources were worth $672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RRC. Fuller & Thaler Asset Management Inc. increased its position in shares of Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after purchasing an additional 2,104,304 shares during the period. Wellington Management Group LLP acquired a new stake in Range Resources in the 4th quarter valued at $33,684,000. Amundi boosted its stake in Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after buying an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after buying an additional 605,315 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RRC. Citigroup lowered Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. Piper Sandler boosted their price target on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $42.00 price target on shares of Range Resources in a research note on Friday, April 11th. Raymond James Financial boosted their price objective on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, Morgan Stanley set a $41.00 target price on Range Resources in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.95.

Range Resources Stock Down 0.3%

RRC stock opened at $40.96 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $9.79 billion, a P/E ratio of 36.57, a P/E/G ratio of 0.32 and a beta of 0.63. The business has a 50-day moving average of $38.35 and a 200-day moving average of $37.61. Range Resources Corporation has a fifty-two week low of $27.29 and a fifty-two week high of $43.50.

Range Resources Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.88%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,880 shares of the company's 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 now owns 1,723 shares in the company, valued at $67,197. This represents a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Funk sold 13,582 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 $1,905,421.82. This represents a 19.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,080 shares of company stock valued at $2,984,479. 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.

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