Range Resources (NYSE:RRC) Hits New 12-Month High - Should You Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stephens reissued an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a research note on Wednesday, April 23rd. Susquehanna cut their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley set a $41.00 price target on Range Resources in a research note on Tuesday, April 15th. Truist Financial increased their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Finally, Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $41.95.

Range Resources Trading Up 0.8%

The company's 50 day moving average is $36.84 and its two-hundred day moving average is $37.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $9.97 billion, a P/E ratio of 21.05, a PEG ratio of 5.11 and a beta of 0.63.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, June 13th. Range Resources's payout ratio is 32.14%.

Insider Activity

In related news, 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 completion of the sale, the director now owns 13,663 shares of the company's stock, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,449,057.00. Following the transaction, the chief executive officer now directly owns 58,431 shares in the company, valued at approximately $2,361,781.02. This represents a 38.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,080 shares of company stock worth $2,984,479. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Range Resources

Several hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Range Resources in the 1st quarter valued at about $33,000. Bessemer Group Inc. boosted 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 last quarter. Cullen Frost Bankers Inc. acquired a new stake in Range Resources during the 1st quarter worth $39,000. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after acquiring an additional 471 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Range Resources in the 4th quarter valued at $42,000. Institutional investors own 98.93% of the company's stock.

About Range Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.