Rafferty Asset Management LLC Has $6.66 Million Stake in Range Resources Co. (NYSE:RRC)

Rafferty Asset Management LLC lessened its position in shares of Range Resources Co. (NYSE:RRC - Free Report) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,171 shares of the oil and gas exploration company's stock after selling 22,150 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.08% of Range Resources worth $6,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. boosted its stake in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after buying an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Range Resources in the 4th quarter valued at $42,000. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the 4th quarter valued at $46,000. Finally, Quent Capital LLC boosted its stake in Range Resources by 72.0% in the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock valued at $78,000 after buying an additional 912 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Insider Buying and Selling

In other Range Resources news, 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 completion of the transaction, the chief executive officer now directly owns 58,431 shares of the company's stock, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the transaction, the senior vice president now directly owns 13,800 shares of the company's stock, valued at approximately $560,556. The trade was a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,880 shares of company stock valued at $2,815,807 over the last three months. Company insiders own 1.00% of the company's stock.

Range Resources Trading Up 0.7%

Shares of Range Resources stock traded up $0.29 during trading on Tuesday, reaching $39.72. 2,200,345 shares of the company were exchanged, compared to its average volume of 2,479,712. 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 Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The business has a 50-day moving average price of $36.64 and a 200-day moving average price of $36.55. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 5.11 and a beta of 0.60.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. During the same period in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts anticipate that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. Range Resources's payout ratio is 32.14%.

Analyst Ratings Changes

Several analysts recently commented on RRC shares. Citigroup lowered Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. 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. Williams Trading set a $40.00 price target on Range Resources in a research note on Wednesday, March 5th. Piper Sandler lifted their price objective on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, StockNews.com upgraded Range Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.85.

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.