Range Resources Corporation (NYSE:RRC) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lessened its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 95.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,524 shares of the oil and gas exploration company's stock after selling 56,168 shares during the period. South Dakota Investment Council's holdings in Range Resources were worth $101,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in shares of Range Resources in the 1st quarter valued at about $33,000. Bessemer Group Inc. boosted its stake in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Range Resources during the 1st quarter worth approximately $39,000. Headlands Technologies LLC acquired a new position in shares of Range Resources in the 4th quarter valued at $42,000. Finally, Fifth Third Bancorp increased its stake in Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after buying an additional 355 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Price Performance

Range Resources stock opened at $35.30 on Tuesday. Range Resources Corporation has a 12-month low of $27.29 and a 12-month high of $43.50. The firm's 50-day moving average is $39.60 and its two-hundred day moving average is $38.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $8.44 billion, a P/E ratio of 31.52, a P/E/G ratio of 0.32 and a beta of 0.63.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. Range Resources's payout ratio is 32.14%.

Wall Street Analyst Weigh In

RRC has been the subject of a number of recent research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and increased their target price for the stock from $41.00 to $42.00 in a report on Tuesday, April 8th. Finally, Bank of America raised their target price on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Range Resources presently has an average rating of "Hold" and an average target price of $42.79.

Insider Transactions at Range Resources

In other news, Director James M. Funk sold 13,582 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 represents a 19.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of Range Resources 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 sale, the chief executive officer directly owned 58,431 shares in the company, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.