Congress Asset Management Co. MA Buys 101,739 Shares of Range Resources Co. (NYSE:RRC)

Congress Asset Management Co. MA raised its stake in Range Resources Co. (NYSE:RRC) by 26.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 492,504 shares of the oil and gas exploration company’s stock after buying an additional 101,739 shares during the period. Congress Asset Management Co. MA owned about 0.20% of Range Resources worth $16,957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RRC. Glenorchy Capital Ltd bought a new stake in Range Resources in the fourth quarter valued at approximately $1,799,000. TFO Wealth Partners LLC boosted its stake in shares of Range Resources by 302,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 21,187 shares of the oil and gas exploration company’s stock valued at $645,000 after purchasing an additional 21,180 shares during the last quarter. DRW Securities LLC increased its position in shares of Range Resources by 150.0% during the fourth quarter. DRW Securities LLC now owns 50,000 shares of the oil and gas exploration company’s stock worth $1,522,000 after buying an additional 30,000 shares during the period. Cary Street Partners Investment Advisory LLC bought a new position in Range Resources during the third quarter worth $27,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Range Resources by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after buying an additional 90,028 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RRC shares. Stephens lifted their price objective on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. StockNews.com upgraded Range Resources to a “sell” rating in a report on Wednesday, March 13th. Citigroup increased their price target on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Barclays began coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective for the company. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus target price of $37.10.

Range Resources Stock Down 1.7 %

Shares of NYSE:RRC opened at $33.47 on Friday. The business’s 50 day moving average is $36.20 and its 200 day moving average is $33.01. Range Resources Co. has a 12-month low of $27.52 and a 12-month high of $39.33. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 16.99 and a beta of 1.81. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 EPS. On average, sell-side analysts forecast that Range Resources Co. will post 2.11 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 0.96%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 1,460 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now directly owns 15,253 shares of the company’s stock, valued at $589,986.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now owns 15,253 shares of the company’s stock, valued at $589,986.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the sale, the vice president now directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The disclosure for this sale can be found here. Insiders have sold a total of 197,107 shares of company stock valued at $7,379,095 in the last 90 days. 1.57% of the stock is currently owned by corporate 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.