Range Resources Corporation (NYSE:RRC) Position Boosted by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of Range Resources Corporation (NYSE:RRC) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,078 shares of the oil and gas exploration company’s stock after purchasing an additional 355 shares during the period. Fifth Third Bancorp’s holdings in Range Resources were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in RRC. Fuller & Thaler Asset Management Inc. boosted its holdings in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Range Resources during the 4th quarter worth $33,684,000. Amundi boosted its stake in shares of Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after acquiring an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after acquiring an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Range Resources by 37.1% during the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after acquiring an additional 605,315 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction 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 approximately $548,706.08. The trade was a 23.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the completion of the sale, the chief executive officer now directly owns 58,431 shares of the company’s stock, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,080 shares of company stock worth $2,984,479 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RRC. Piper Sandler increased their price target on Range Resources from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Barclays decreased their target price on shares of Range Resources from $43.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Mizuho raised their target price on shares of Range Resources from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. 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, Roth Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $41.95.

Range Resources Stock Up 1.5%

Shares of Range Resources stock opened at $43.20 on Friday. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 0.34 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. Range Resources Corporation has a 52-week low of $27.29 and a 52-week high of $43.33. The stock has a 50-day simple moving average of $37.75 and a 200-day simple moving average of $37.42.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, June 13th. Range Resources’s dividend payout ratio (DPR) is presently 32.14%.

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.