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Segall Bryant & Hamill LLC Cuts Holdings in Range Resources Corporation (NYSE:RRC)

Range Resources logo with Energy background

Segall Bryant & Hamill LLC lowered its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 72.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,925 shares of the oil and gas exploration company's stock after selling 608,286 shares during the period. Segall Bryant & Hamill LLC owned about 0.09% of Range Resources worth $9,021,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in 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 acquiring an additional 315 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Range Resources during the 4th quarter valued at $42,000. Fifth Third Bancorp grew its holdings 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 worth $83,000 after acquiring an additional 355 shares during the last quarter. UMB Bank n.a. boosted its stake in Range Resources by 124.9% during the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock worth $103,000 after acquiring an additional 1,434 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Range Resources during the first quarter valued at approximately $133,000. Institutional investors own 98.93% of the company's stock.

Insider Activity

In other news, CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction 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 owned 58,431 shares in the company, valued at $2,361,781.02. The trade was a 38.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the sale, the vice president directly owned 1,723 shares of the company's stock, valued at approximately $67,197. This represents a 88.20% 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 worth $2,984,479. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RRC shares. Barclays increased their target price on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Mizuho increased their price objective on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Susquehanna lowered their price objective on Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Bank of America raised their target price on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and increased their price target for the stock from $41.00 to $42.00 in a report on Tuesday, April 8th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $42.79.

Check Out Our Latest Analysis on Range Resources

Range Resources Stock Up 1.0%

Range Resources stock opened at $38.21 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.28. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 0.31 and a beta of 0.63. The company's 50-day moving average price is $39.59 and its two-hundred day moving average price is $38.04. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50.

Range Resources Dividend Announcement

The company also recently declared 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 was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. Range Resources's dividend payout ratio is 32.14%.

Range Resources Profile

(Free Report)

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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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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.

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