Penserra Capital Management LLC Invests $448,000 in Range Resources Corporation (NYSE:RRC)

Penserra Capital Management LLC bought a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,221 shares of the oil and gas exploration company's stock, valued at approximately $448,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RRC. Bessemer Group Inc. raised its position in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after purchasing an additional 315 shares during the period. Headlands Technologies LLC purchased a new position in shares of Range Resources during the fourth quarter valued at $42,000. Fifth Third Bancorp grew its holdings in shares of 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 valued at $83,000 after buying an additional 355 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Range Resources by 124.9% during the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after buying an additional 1,434 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Range Resources by 1,071.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,211 shares of the oil and gas exploration company's stock valued at $116,000 after buying an additional 2,937 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Range Resources

In related news, Director James M. Funk sold 13,582 shares of the business'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 transaction, the director owned 54,394 shares of the company's stock, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $2,361,781.02. This represents a 38.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock worth $2,984,479 in the last ninety days. 1.00% of the stock is owned by insiders.

Range Resources Stock Performance

RRC opened at $37.67 on Friday. The company has a market cap of $9.00 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63. The stock has a 50-day moving average of $39.31 and a 200-day moving average of $37.92. Range Resources Corporation has a 52-week low of $27.29 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56.

Range Resources Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. Range Resources's dividend payout ratio is presently 32.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RRC shares. Barclays lifted their price target on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday. Truist Financial lifted their price target on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Raymond James Financial lifted their price target on Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, March 31st. UBS Group lifted their price target on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. 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, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $42.58.

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.

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