Range Resources Co. (NYSE:RRC) Shares Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI increased its stake in Range Resources Co. (NYSE:RRC - Free Report) by 10.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,100 shares of the oil and gas exploration company's stock after purchasing an additional 11,450 shares during the period. Parsons Capital Management Inc. RI's holdings in Range Resources were worth $4,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after buying an additional 378 shares during the period. Commonwealth Equity Services LLC lifted its position in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock worth $508,000 after acquiring an additional 379 shares during the period. King Luther Capital Management Corp lifted its position in 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 acquiring an additional 390 shares during the period. Arizona State Retirement System grew its stake in Range Resources by 0.6% during the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after purchasing an additional 395 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of 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 purchasing an additional 471 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Insider Buying and Selling

In related news, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now directly owns 54,394 shares of the company's stock, valued at approximately $1,905,421.82. This trade represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the completion of the sale, the chief executive officer now owns 58,431 shares in the company, valued at approximately $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,080 shares of company stock worth $2,984,479. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RRC. JPMorgan Chase & Co. upgraded Range Resources from an "underweight" rating to a "neutral" rating and upped their target price for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. Roth Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Susquehanna cut their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $42.00 target price on shares of Range Resources in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.95.

Range Resources Price Performance

RRC traded down $0.07 during trading on Tuesday, reaching $38.74. The company's stock had a trading volume of 2,995,125 shares, compared to its average volume of 2,504,337. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 5.11 and a beta of 0.63. The firm has a fifty day simple moving average of $36.39 and a two-hundred day simple moving average of $37.08. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. 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 Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, June 13th. Range Resources's payout ratio is currently 32.14%.

Range Resources Company 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.