SG Americas Securities LLC Invests $1.15 Million in Range Resources Corporation (NYSE:RRC)

SG Americas Securities LLC purchased a new stake in Range Resources Corporation (NYSE:RRC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,688 shares of the oil and gas exploration company's stock, valued at approximately $1,146,000.

Several other large investors have also bought and sold shares of the stock. Parsons Capital Management Inc. RI increased its position in Range Resources by 10.9% in the 1st quarter. Parsons Capital Management Inc. RI now owns 116,100 shares of the oil and gas exploration company's stock valued at $4,636,000 after buying an additional 11,450 shares in the last quarter. GAMMA Investing LLC raised its holdings in Range Resources by 30.8% during the 1st quarter. GAMMA Investing LLC now owns 5,743 shares of the oil and gas exploration company's stock valued at $229,000 after acquiring an additional 1,352 shares during the period. Portside Wealth Group LLC raised its holdings in Range Resources by 12.6% during the 1st quarter. Portside Wealth Group LLC now owns 7,339 shares of the oil and gas exploration company's stock valued at $293,000 after acquiring an additional 821 shares during the period. Toth Financial Advisory Corp increased its holdings in shares of Range Resources by 541.2% in the first quarter. Toth Financial Advisory Corp now owns 23,725 shares of the oil and gas exploration company's stock worth $947,000 after purchasing an additional 20,025 shares during the period. Finally, One Plus One Wealth Management LLC bought a new position in Range Resources in the first quarter valued at $205,000. 98.93% of the stock is owned by institutional investors.

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the transaction, the director now owns 13,663 shares in the company, valued at $548,706.08. The trade was a 23.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dennis Degner sold 35,850 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now directly owns 58,431 shares in the company, valued at approximately $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,080 shares of company stock worth $2,984,479. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RRC. Barclays lowered their price objective on Range Resources from $43.00 to $39.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 price objective on shares of Range Resources in a research note on Friday, April 11th. Mizuho upped their target price on Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Susquehanna lowered their target price on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial increased their price target on shares of Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $41.95.

Range Resources Price Performance

Shares of RRC stock traded up $0.35 on Thursday, reaching $42.61. The company's stock had a trading volume of 2,689,170 shares, compared to its average volume of 2,532,220. Range Resources Corporation has a 12-month low of $27.29 and a 12-month high of $43.27. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.18 billion, a P/E ratio of 38.04, a PEG ratio of 0.34 and a beta of 0.63. The stock's 50 day simple moving average is $37.55 and its 200-day simple moving average is $37.36.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.84%. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

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.