Ingalls & Snyder LLC boosted its position in shares of Range Resources Corp. (NYSE:RRC) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,069,653 shares of the oil and gas exploration company’s stock after acquiring an additional 24,600 shares during the period. Ingalls & Snyder LLC’s holdings in Range Resources were worth $12,023,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of RRC. Tower Research Capital LLC TRC increased its stake in Range Resources by 190.6% during the third quarter. Tower Research Capital LLC TRC now owns 15,282 shares of the oil and gas exploration company’s stock valued at $260,000 after acquiring an additional 10,024 shares during the period. Riverhead Capital Management LLC increased its stake in Range Resources by 93.0% during the third quarter. Riverhead Capital Management LLC now owns 15,900 shares of the oil and gas exploration company’s stock valued at $270,000 after acquiring an additional 7,662 shares during the period. LPL Financial LLC bought a new position in Range Resources during the third quarter valued at about $201,000. Paloma Partners Management Co increased its stake in Range Resources by 5.4% during the third quarter. Paloma Partners Management Co now owns 216,365 shares of the oil and gas exploration company’s stock valued at $3,677,000 after acquiring an additional 11,011 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Range Resources by 4.5% during the third quarter. Pacer Advisors Inc. now owns 74,946 shares of the oil and gas exploration company’s stock valued at $1,273,000 after acquiring an additional 3,204 shares during the period.
RRC stock traded down $0.21 during mid-day trading on Thursday, hitting $10.34. 5,480,783 shares of the company were exchanged, compared to its average volume of 7,184,148. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $2.57 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. Range Resources Corp. has a 1-year low of $9.22 and a 1-year high of $18.59.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.77%. Range Resources’s dividend payout ratio (DPR) is presently 7.08%.
In other Range Resources news, Director Steven D. Gray purchased 20,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $10.95 per share, for a total transaction of $219,000.00. Following the completion of the transaction, the director now owns 7,804 shares in the company, valued at $85,453.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Funk purchased 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $9.80 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now owns 22,706 shares of the company’s stock, valued at approximately $222,518.80. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
Several analysts recently commented on RRC shares. B. Riley set a $21.00 price objective on Range Resources and gave the stock a “buy” rating in a research note on Friday, December 21st. Cowen started coverage on shares of Range Resources in a research note on Tuesday. They issued an “outperform” rating and a $14.00 target price for the company. Zacks Investment Research downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. TheStreet downgraded shares of Range Resources from a “c” rating to a “d” rating in a research note on Wednesday, March 13th. Finally, Credit Suisse Group set a $16.00 target price on shares of Range Resources and gave the company a “buy” rating in a research note on Tuesday, February 26th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.04.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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