Bank of America Corp DE Sells 1,149,158 Shares of Range Resources Co. (NYSE:RRC)

Bank of America Corp DE lessened its position in Range Resources Co. (NYSE:RRC - Free Report) by 57.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 860,133 shares of the oil and gas exploration company's stock after selling 1,149,158 shares during the quarter. Bank of America Corp DE owned about 0.36% of Range Resources worth $30,948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. boosted its stake in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after purchasing an additional 426 shares during the period. Headlands Technologies LLC acquired a new stake in Range Resources in the 4th quarter valued at approximately $42,000. Geneos Wealth Management Inc. acquired a new stake in Range Resources in the 4th quarter valued at approximately $46,000. Finally, Quent Capital LLC increased its position in Range Resources by 72.0% in the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock worth $78,000 after buying an additional 912 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Price Performance

Shares of RRC stock traded down $0.47 during trading hours on Thursday, hitting $38.85. The company had a trading volume of 173,475 shares, compared to its average volume of 2,464,805. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm's fifty day moving average is $36.66 and its 200 day moving average is $36.56. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 5.11 and a beta of 0.60.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same period in the prior year, the business posted $0.63 earnings per share. On average, sell-side analysts predict that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. Range Resources's dividend payout ratio is presently 32.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Williams Trading set a $40.00 price objective on Range Resources in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and increased their price target for the company from $43.00 to $45.00 in a report on Thursday, March 13th. Susquehanna decreased their price target on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler boosted their price objective on shares of Range Resources from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Stephens reiterated an "overweight" rating and issued a $49.00 target price on shares of Range Resources in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Range Resources has an average rating of "Hold" and an average target price of $41.85.

Insider Transactions at Range Resources

In other news, SVP Erin W. Mcdowell sold 9,568 shares of Range Resources stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,800 shares in the company, valued at approximately $560,556. The trade was a 40.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction that occurred 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 $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,880 shares of company stock valued at $2,815,807. 1.00% of the stock is owned by insiders.

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.