Moody National Bank Trust Division cut its position in shares of Range Resources Co. (NYSE:RRC – Free Report) by 13.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,481 shares of the oil and gas exploration company’s stock after selling 3,520 shares during the quarter. Moody National Bank Trust Division’s holdings in Range Resources were worth $845,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Range Resources during the 3rd quarter worth approximately $25,000. Blue Trust Inc. increased its holdings in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares in the last quarter. Bogart Wealth LLC acquired a new position in Range Resources during the third quarter worth $49,000. Versant Capital Management Inc grew its position in shares of Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares during the period. Finally, CWM LLC increased its stake in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock worth $71,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.
Range Resources Price Performance
Shares of RRC opened at $39.61 on Wednesday. The firm has a 50-day simple moving average of $34.96 and a two-hundred day simple moving average of $32.38. The stock has a market cap of $9.56 billion, a PE ratio of 20.01 and a beta of 1.81. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.
Range Resources Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is 16.16%.
Insider Buying and Selling at Range Resources
In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.57% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on RRC shares. Truist Financial lifted their price objective on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $45.00 in a report on Monday. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus target price of $37.16.
View Our Latest Stock Report on RRC
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.
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