Moran Wealth Management LLC Reduces Stock Position in Range Resources Corporation (NYSE:RRC)

Moran Wealth Management LLC trimmed its stake 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 & 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised 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 acquiring an additional 355 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after purchasing an additional 379 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Range Resources by 1.3% during the 4th 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. Arizona State Retirement System lifted its holdings in shares of Range Resources by 0.6% in the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock worth $2,528,000 after acquiring an additional 395 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent research reports. Mizuho lifted their price target on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price target for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Piper Sandler increased their price objective on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Bank of America lifted their target price on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, UBS Group upped their price target on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Range Resources presently has a consensus rating of "Hold" and an average price target of $41.95.

Range Resources Trading Down 1.3%

RRC stock traded down $0.55 during mid-day trading on Monday, reaching $40.66. The company's stock had a trading volume of 2,110,860 shares, compared to its average volume of 2,499,674. The business's 50 day moving average price is $38.66 and its 200 day moving average price is $37.72. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.28. Range Resources Corporation has a 12 month low of $27.29 and a 12 month high of $43.50.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's payout ratio is 32.14%.

Insider Buying and Selling

In other news, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 in the company, valued at $560,556. The trade was a 40.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer directly owned 58,431 shares in the company, valued at $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,080 shares of company stock worth $2,984,479 over the last 90 days. 1.00% of the stock is owned by company insiders.

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.