GAMMA Investing LLC Has $9.16 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

GAMMA Investing LLC raised its position in Range Resources Co. (NYSE:RRC - Free Report) by 5,122.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 229,318 shares of the oil and gas exploration company's stock after acquiring an additional 224,927 shares during the period. GAMMA Investing LLC owned about 0.10% of Range Resources worth $9,157,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in shares of Range Resources during the 4th quarter worth approximately $33,684,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Range Resources by 23.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,094 shares of the oil and gas exploration company's stock worth $327,000 after purchasing an additional 1,756 shares during the last quarter. Forum Financial Management LP increased its position in shares of Range Resources by 19.1% during the 4th quarter. Forum Financial Management LP now owns 8,046 shares of the oil and gas exploration company's stock worth $289,000 after purchasing an additional 1,293 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Range Resources during the 4th quarter worth approximately $2,645,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Range Resources during the 4th quarter worth approximately $3,001,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Insider Activity

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the company'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 owns 58,431 shares of the company's stock, valued at $2,361,781.02. This represents a 38.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the transaction, the director now directly owns 13,663 shares of the company's stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is currently owned by company insiders.

Range Resources Stock Performance

NYSE RRC traded up $0.62 on Wednesday, reaching $39.35. The stock had a trading volume of 2,615,572 shares, compared to its average volume of 2,508,473. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a fifty day moving average of $36.52 and a two-hundred day moving average of $37.11. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $9.40 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 5.11 and a beta of 0.63.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.91%. Range Resources's payout ratio is 32.14%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho boosted their price target on Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Bank of America boosted their price target on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Raymond James boosted their price target on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. UBS Group boosted their target price on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Susquehanna decreased their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.95.

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.