Range Resources Corporation (NYSE:RRC) Shares Bought by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC grew its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,435,376 shares of the oil and gas exploration company's stock after acquiring an additional 25,403 shares during the period. Range Resources comprises 10.6% of Goehring & Rozencwajg Associates LLC's investment portfolio, making the stock its biggest holding. Goehring & Rozencwajg Associates LLC owned approximately 0.60% of Range Resources worth $57,803,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in RRC. Smartleaf Asset Management LLC raised its holdings in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after buying an additional 471 shares during the period. Bessemer Group Inc. raised its holdings in shares of Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after buying an additional 315 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Range Resources in the 4th quarter valued at $42,000. Fifth Third Bancorp raised its holdings in shares of 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. Finally, UMB Bank n.a. raised its holdings in shares of Range Resources by 124.9% in the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after buying an additional 1,434 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Range Resources

In related 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 sale, the chief executive officer directly owned 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 through the SEC website. Also, VP Ashley Kavanaugh sold 12,880 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the completion of the sale, the vice president directly owned 1,723 shares of the company's stock, valued at approximately $67,197. This trade represents a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,080 shares of company stock worth $2,984,479. Insiders own 1.00% of the company's stock.

Range Resources Stock Down 0.7%

Shares of RRC traded down $0.28 during mid-day trading on Friday, reaching $38.53. The company's stock had a trading volume of 1,217,777 shares, compared to its average volume of 2,517,639. Range Resources Corporation has a 12-month low of $27.29 and a 12-month high of $43.50. The stock has a market cap of $9.21 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 0.30 and a beta of 0.63. 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 company's 50 day moving average is $38.96 and its 200 day moving average is $37.76.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Analyst Upgrades and Downgrades

RRC has been the topic of several research analyst reports. Morgan Stanley set a $41.00 price objective on Range Resources in a report on Tuesday, April 15th. Barclays cut their price objective on Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Susquehanna cut their price objective on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Stephens reiterated an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Finally, Bank of America upped their price target on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.95.

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.