Stratos Wealth Partners LTD. Trims Holdings in Range Resources Corporation (NYSE:RRC)

Stratos Wealth Partners LTD. reduced its position in shares of Range Resources Corporation (NYSE:RRC) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,753 shares of the oil and gas exploration company’s stock after selling 654 shares during the period. Stratos Wealth Partners LTD.’s holdings in Range Resources were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RRC. Bessemer Group Inc. increased its holdings in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares during the period. Fifth Third Bancorp boosted its stake in 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 in the last quarter. Commonwealth Equity Services LLC boosted its stake in Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after buying an additional 379 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Range Resources by 1.1% during the first quarter. OneDigital Investment Advisors LLC now owns 56,876 shares of the oil and gas exploration company’s stock valued at $2,271,000 after buying an additional 616 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Range Resources by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 104,238 shares of the oil and gas exploration company’s stock valued at $3,750,000 after buying an additional 650 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RRC. Bank of America increased their price target on Range Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Raymond James Financial increased their price target on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Susquehanna decreased their price target on Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley set a $41.00 price target on Range Resources in a research report on Tuesday, April 15th. Finally, Piper Sandler increased their price objective on Range Resources from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.79.

Range Resources Stock Performance

RRC opened at $38.13 on Wednesday. The firm has a market capitalization of $9.11 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The stock’s 50 day moving average price is $39.52 and its two-hundred day moving average price is $38.03. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28. Range Resources Corporation has a 12-month low of $27.29 and a 12-month high of $43.50.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources’s dividend payout ratio is currently 32.14%.

Insider Buying and Selling

In other news, Director James M. Funk sold 13,582 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director owned 54,394 shares in the company, valued at $1,905,421.82. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Reginal Spiller sold 4,200 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 13,663 shares of the company’s stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,080 shares of company stock valued at $2,984,479. Insiders own 1.00% 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.