Oppenheimer & Co. Inc. Decreases Stake in Range Resources Corporation (NYSE:RRC)

Oppenheimer & Co. Inc. lowered its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 67.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,953 shares of the oil and gas exploration company's stock after selling 18,454 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Range Resources were worth $357,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Range Resources by 4.9% in the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock valued at $287,078,000 after acquiring an additional 371,777 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after purchasing an additional 624,955 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock worth $181,961,000 after purchasing an additional 2,104,304 shares during the period. Northern Trust Corp lifted its stake in Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after purchasing an additional 605,315 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Range Resources by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,112,602 shares of the oil and gas exploration company's stock valued at $76,011,000 after purchasing an additional 94,898 shares during the period. Institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on RRC shares. UBS Group boosted their target price on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Raymond James Financial boosted their price objective on Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Williams Trading set a $40.00 target price on shares of Range Resources in a research report on Wednesday, March 5th. Susquehanna reduced their target price on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 price target 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, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.95.

Range Resources Price Performance

Range Resources stock traded down $0.28 during mid-day trading on Thursday, hitting $38.53. 1,217,777 shares of the company traded hands, compared to its average volume of 2,517,639. 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 stock has a market cap of $9.21 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63. The stock has a fifty day moving average price of $38.86 and a 200-day moving average price of $37.73.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's payout ratio is currently 32.14%.

Insider Buying and Selling at Range Resources

In other news, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the completion of the sale, the chief executive officer directly owned 58,431 shares in the company, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the transaction, the director directly owned 54,394 shares in the company, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is currently owned by corporate insiders.

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.