Jefferies Financial Group Inc. Has $38.68 Million Position in Range Resources Corporation (NYSE:RRC)

Jefferies Financial Group Inc. raised its holdings in Range Resources Corporation (NYSE:RRC) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 968,759 shares of the oil and gas exploration company’s stock after buying an additional 173,785 shares during the quarter. Jefferies Financial Group Inc. owned 0.41% of Range Resources worth $38,683,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 315 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Range Resources by 1.2% during the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company’s stock valued at $1,099,000 after acquiring an additional 326 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Range Resources by 0.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock valued at $2,636,000 after purchasing an additional 328 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of 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 purchasing an additional 355 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of Range Resources by 5.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company’s stock worth $266,000 after purchasing an additional 360 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of the business’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 transaction of $168,672.00. Following the completion of the transaction, the director owned 13,663 shares in the company, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the sale, the senior vice president directly owned 13,800 shares of the company’s stock, valued at $560,556. The trade was a 40.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley set a $41.00 price target on shares of Range Resources in a report on Tuesday, April 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 target price on shares of Range Resources in a research note on Tuesday, July 15th. Scotiabank set a $46.00 price target on Range Resources and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Roth Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Stephens reissued an “overweight” rating and issued a $49.00 price objective 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, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.37.

Range Resources Price Performance

RRC opened at $36.74 on Friday. The company has a fifty day moving average price of $38.92 and a two-hundred day moving average price of $37.99. The firm has a market capitalization of $8.75 billion, a PE ratio of 18.46, a P/E/G ratio of 0.29 and a beta of 0.63. Range Resources Corporation has a 52 week low of $27.29 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. During the same period last year, the company earned $0.46 EPS. As a group, analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 13th. Range Resources’s payout ratio is presently 18.09%.

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.