Range Resources Corporation (NYSE:RRC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,190,944 shares of the oil and gas exploration company's stock after selling 28,701 shares during the period. Bank of New York Mellon Corp owned 0.92% of Range Resources worth $87,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RRC. Jones Financial Companies Lllp raised its position in shares of 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 valued at $116,000 after buying an additional 2,937 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at about $1,192,000. Raymond James Financial Inc. acquired a new stake in shares of Range Resources in the fourth quarter valued at about $13,088,000. Amundi grew its holdings in shares of Range Resources by 233.2% in the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after purchasing an additional 826,530 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Range Resources by 18.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,686 shares of the oil and gas exploration company's stock valued at $2,363,000 after purchasing an additional 10,100 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRC has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. UBS Group upped their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Mizuho upped their price objective on shares of Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Barclays upped their price objective on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.58.

Insiders Place Their Bets

In other news, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total value 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. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the transaction, the vice president directly owned 1,723 shares of the company's stock, valued at approximately $67,197. The trade was a 88.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is owned by company insiders.

Range Resources Trading Up 0.5%

NYSE RRC opened at $37.67 on Friday. The firm has a 50 day simple moving average of $39.31 and a 200-day simple moving average of $37.92. 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 Corporation has a one year low of $27.29 and a one year high of $43.50. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 0.31 and a beta of 0.63.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's payout ratio is 32.14%.

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.

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