Wealth Enhancement Advisory Services LLC Buys 8,941 Shares of Range Resources Corporation (NYSE:RRC)

Wealth Enhancement Advisory Services LLC lifted its stake in Range Resources Corporation (NYSE:RRC - Free Report) by 98.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,035 shares of the oil and gas exploration company's stock after purchasing an additional 8,941 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Range Resources were worth $720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in shares of Range Resources by 20.6% during the first 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 last quarter. Commonwealth Equity Services LLC lifted its position in Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after purchasing an additional 390 shares during the last quarter. Arizona State Retirement System boosted its stake in Range Resources by 0.6% during the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after purchasing an additional 395 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased 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 worth $37,000 after purchasing an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

RRC stock traded down $0.28 during 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. 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's fifty day moving average is $38.96 and its 200-day moving average is $37.76. The company has a market capitalization of $9.21 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63. Range Resources Corporation has a 1 year low of $27.29 and a 1 year high of $43.50.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.93%. Range Resources's payout ratio is 32.14%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Stephens reaffirmed an "overweight" rating and set a $49.00 price objective on shares of Range Resources in a research report on Wednesday, April 23rd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $42.00 price target on shares of Range Resources in a research note on Friday, April 11th. Barclays lowered their price objective on shares of Range Resources from $43.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Bank of America raised their target price on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Piper Sandler boosted their target price on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Two equities research 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's stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and an average target price of $41.95.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,880 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reginal Spiller sold 4,200 shares of the firm'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 transaction, the director owned 13,663 shares of the company's stock, valued at $548,706.08. This represents a 23.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,080 shares of company stock valued at $2,984,479 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.