Sigma Planning Corp Makes New Investment in Range Resources Corporation (NYSE:RRC)

Sigma Planning Corp acquired a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,688 shares of the oil and gas exploration company's stock, valued at approximately $347,000.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after purchasing an additional 315 shares during the last quarter. Headlands Technologies LLC acquired a new position in Range Resources in the 4th quarter valued at about $42,000. Fifth Third Bancorp increased its position 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 acquiring an additional 355 shares during the period. UMB Bank n.a. increased its position in 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 acquiring an additional 1,434 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Range Resources in the 1st quarter valued at about $133,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Insider Buying and Selling at Range Resources

In other news, CEO Dennis Degner sold 35,850 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction 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 represents a 38.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the sale, the senior vice president owned 13,800 shares of the company's stock, valued at approximately $560,556. This represents a 40.94% 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. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RRC has been the topic of several recent research reports. Barclays boosted their price target on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Piper Sandler boosted their price target on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and boosted their price target for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Mizuho lifted their price objective on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen lowered Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $42.79.

Range Resources Trading Up 0.2%

RRC stock opened at $38.26 on Monday. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 0.32 and a beta of 0.63. 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 business has a fifty day simple moving average of $39.60 and a 200-day simple moving average of $38.08. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.09 per share. 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 0.94%. Range Resources's payout ratio is 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.

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