Range Resources Co. (NYSE:RRC) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its position in shares of Range Resources Co. (NYSE:RRC) by 25.5% during the 4th quarter, Holdings Channel reports. The firm owned 7,033 shares of the oil and gas exploration company’s stock after selling 2,406 shares during the quarter. Panagora Asset Management Inc.’s holdings in Range Resources were worth $214,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. purchased a new position in shares of Range Resources during the third quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Range Resources during the 3rd quarter worth about $27,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 666 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Range Resources in the third quarter worth about $49,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on RRC. Stephens lifted their price target on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday, April 24th. Morgan Stanley increased their price target on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. StockNews.com raised shares of Range Resources to a “sell” rating in a report on Wednesday, March 13th. Finally, Susquehanna increased their target price on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Five 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. Based on data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus target price of $37.10.

Range Resources Stock Performance

NYSE RRC opened at $35.78 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $35.62 and its 200-day simple moving average is $32.61. The company has a market cap of $8.68 billion, a PE ratio of 18.16 and a beta of 1.85. Range Resources Co. has a 1-year low of $25.89 and a 1-year high of $39.33.

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

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. Range Resources’s payout ratio is presently 16.24%.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 1,460 shares of the business’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 transaction of $56,472.80. Following the transaction, the director now directly owns 15,253 shares in the company, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the firm’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 completion of the sale, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction 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 transaction, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,107 shares of company stock valued at $7,379,095. Corporate insiders own 1.57% of the company’s stock.

About Range Resources

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.