2,806 Shares in Range Resources Co. (NYSE:RRC) Bought by GAMMA Investing LLC

GAMMA Investing LLC acquired a new stake in shares of Range Resources Co. (NYSE:RRC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,806 shares of the oil and gas exploration company’s stock, valued at approximately $81,000.

A number of other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 490 shares during the period. Xponance Inc. boosted its stake in Range Resources by 2.0% during the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after buying an additional 579 shares during the last quarter. Octavia Wealth Advisors LLC raised its holdings in shares of Range Resources by 9.4% during the 4th quarter. Octavia Wealth Advisors LLC now owns 6,857 shares of the oil and gas exploration company’s stock worth $209,000 after acquiring an additional 590 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its stake in Range Resources by 7.0% during the third quarter. Alliance Wealth Advisors LLC UT now owns 9,972 shares of the oil and gas exploration company’s stock valued at $323,000 after purchasing an additional 652 shares in the last quarter. Finally, Raleigh Capital Management Inc. bought a new stake in shares of Range Resources in the 3rd quarter valued at approximately $26,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of Range Resources stock opened at $37.36 on Tuesday. The stock has a market capitalization of $9.06 billion, a P/E ratio of 18.96 and a beta of 1.83. The business has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $32.42. Range Resources Co. has a 12 month low of $23.92 and a 12 month high of $38.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the prior year, the company earned $0.96 EPS. The firm’s revenue was down 15.7% compared to the same quarter last year. As a group, analysts predict that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s dividend payout ratio is presently 16.24%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RRC. Stephens raised their price target on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Susquehanna raised their price objective on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Raymond James lowered their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada downgraded shares of Range Resources from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $36.00 to $39.00 in a research report on Friday. Finally, StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.65.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now directly owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by insiders.

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.