Range Resources Co. (NYSE:RRC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 5,122.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 229,318 shares of the oil and gas exploration company's stock after purchasing 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.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in 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 acquiring an additional 471 shares during the period. Headlands Technologies LLC acquired a new stake in Range Resources in the fourth quarter worth approximately $42,000. Quent Capital LLC lifted its position in Range Resources by 72.0% in the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after purchasing an additional 912 shares during the period. Blue Trust Inc. lifted its position in Range Resources by 105.2% in the fourth quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company's stock worth $100,000 after purchasing an additional 1,429 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Range Resources by 1,071.9% in the fourth quarter. Jones Financial Companies Lllp now owns 3,211 shares of the oil and gas exploration company's stock worth $116,000 after purchasing an additional 2,937 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 2.6%

Shares of NYSE:RRC opened at $38.38 on Friday. The stock has a market capitalization of $9.17 billion, a PE ratio of 19.38, a P/E/G ratio of 5.11 and a beta of 0.63. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The firm has a fifty day moving average price of $36.42 and a 200 day moving average price of $37.05. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 13th. Range Resources's dividend payout ratio is presently 32.14%.

Insider Buying and Selling

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 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 directly owns 58,431 shares in the company, valued at $2,361,781.02. This represents 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 available at the SEC website. Also, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the sale, the director now owns 13,663 shares of the company's stock, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,080 shares of company stock worth $2,984,479. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

RRC has been the topic of several research reports. Stephens reaffirmed an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a report on Wednesday, April 23rd. Truist Financial upped 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. Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Williams Trading set a $40.00 price target on Range Resources in a report on Wednesday, March 5th. Finally, Bank of America upped their price target on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.95.

Range Resources 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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