Stephens Inc. AR Takes Position in Range Resources Corporation (NYSE:RRC)

Stephens Inc. AR bought a new stake in shares of Range Resources Corporation (NYSE:RRC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,041 shares of the oil and gas exploration company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RRC. Bessemer Group Inc. grew its position in shares of Range Resources by 48.0% during the 1st 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. Headlands Technologies LLC bought a new position in shares of Range Resources during the 4th quarter valued at approximately $42,000. Fifth Third Bancorp boosted its holdings in Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock worth $83,000 after buying an additional 355 shares during the period. UMB Bank n.a. boosted its holdings in Range Resources by 124.9% in the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company’s stock worth $103,000 after buying an additional 1,434 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Range Resources in the 1st quarter worth approximately $133,000. 98.93% of the stock is owned by institutional investors.

Range Resources Price Performance

Shares of NYSE:RRC opened at $38.26 on Monday. The stock has a market cap of $9.14 billion, a PE ratio of 34.16, a PEG ratio of 0.32 and a beta of 0.63. The company’s fifty day moving average is $39.60 and its 200 day moving average is $38.08. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50. 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 Dividend Announcement

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

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 4,200 shares of the company’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 transaction, the director owned 13,663 shares in the company, valued at approximately $548,706.08. This represents a 23.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James M. Funk sold 13,582 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 54,394 shares in the company, valued at approximately $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 valued at $2,984,479 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on RRC. Barclays raised their price objective on shares of Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Piper Sandler raised 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. Bank of America raised their price objective 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. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Raymond James Financial raised their price target on shares of Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $42.79.

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.