Sigma Planning Corp Invests $347,000 in Range Resources Corporation (NYSE:RRC)

Sigma Planning Corp acquired a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing 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.

A number of other institutional investors have also recently bought and sold shares of RRC. Commonwealth Equity Services LLC boosted its position in Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after purchasing an additional 379 shares during the last quarter. Xponance Inc. lifted its position in shares of Range Resources by 4.6% in the fourth quarter. Xponance Inc. now owns 27,186 shares of the oil and gas exploration company's stock worth $978,000 after buying an additional 1,202 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Range Resources by 7.9% in the fourth quarter. American Century Companies Inc. now owns 361,966 shares of the oil and gas exploration company's stock worth $13,024,000 after buying an additional 26,526 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Range Resources in the fourth quarter worth about $1,795,000. Finally, LPL Financial LLC lifted its position in shares of Range Resources by 23.2% in the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock worth $4,095,000 after buying an additional 21,440 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley set a $41.00 price target on Range Resources in a research report on Tuesday, April 15th. Barclays boosted their price target on Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Susquehanna boosted their price target on Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday. Bank of America boosted their price target on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Piper Sandler boosted their price target on Range Resources from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $43.11.

Range Resources Stock Performance

RRC traded up $0.55 on Thursday, hitting $36.27. 3,392,170 shares of the stock traded hands, compared to its average volume of 2,929,846. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50. The company has a current ratio of 0.55, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $8.64 billion, a PE ratio of 18.22, a P/E/G ratio of 0.29 and a beta of 0.63. The business has a fifty day moving average price of $39.26 and a two-hundred day moving average price of $38.04.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. The firm had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same period in the previous year, the company posted $0.46 earnings per share. On average, research analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Range Resources's dividend payout ratio is currently 32.14%.

Insider Buying and Selling

In other news, VP Ashley Kavanaugh sold 12,880 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 in the company, valued at approximately $67,197. This represents a 88.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the sale, the director owned 13,663 shares in the company, valued at approximately $548,706.08. This represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,080 shares of company stock worth $2,984,479. Insiders own 1.00% of the company's stock.

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.