Range Resources (NYSE:RRC) Sets New 1-Year High - What's Next?

Range Resources Corporation (NYSE:RRC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $42.50 and last traded at $41.89, with a volume of 448458 shares. The stock had previously closed at $41.39.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Raymond James Financial increased their target price on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Truist Financial increased their price objective on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research note on Monday, March 17th. Susquehanna cut 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 report on Tuesday, April 22nd. Bank of America upped their price target 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, Stephens reiterated an "overweight" rating and issued a $49.00 price target 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 given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.95.

Range Resources Price Performance

The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 38.04, a P/E/G ratio of 0.34 and a beta of 0.63. The business's 50-day simple moving average is $37.34 and its two-hundred day simple moving average is $37.31. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.28.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, June 13th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Activity at Range Resources

In other Range Resources news, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the transaction, the senior vice president now directly owns 13,800 shares in the company, valued at approximately $560,556. This represents a 40.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares of the company's stock, valued at $1,905,421.82. This represents a 19.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,080 shares of company stock worth $2,984,479 over the last quarter. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Range Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in shares of Range Resources in the 1st quarter valued at about $33,000. Smartleaf Asset Management LLC boosted its holdings in 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 worth $37,000 after acquiring an additional 471 shares in the last quarter. Bessemer Group Inc. grew its stake in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after acquiring an additional 315 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Range Resources in the first quarter valued at approximately $39,000. Finally, Headlands Technologies LLC bought a new stake in shares of Range Resources during the fourth quarter valued at approximately $42,000. 98.93% of the stock is owned by institutional investors.

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.