Range Resources Corporation $RRC Position Boosted by Ingalls & Snyder LLC

Ingalls & Snyder LLC increased its holdings in shares of Range Resources Corporation (NYSE:RRC) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 793,525 shares of the oil and gas exploration company’s stock after acquiring an additional 4,250 shares during the quarter. Range Resources makes up approximately 1.1% of Ingalls & Snyder LLC’s holdings, making the stock its 16th biggest holding. Ingalls & Snyder LLC owned 0.33% of Range Resources worth $32,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in RRC. Hollencrest Capital Management acquired a new position in shares of Range Resources during the first quarter valued at approximately $33,000. Bessemer Group Inc. boosted its stake in shares of Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 315 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Range Resources during the 1st quarter valued at $39,000. Barrett & Company Inc. bought a new position in shares of Range Resources during the 2nd quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Range Resources during the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $37.61 on Friday. The stock has a market cap of $8.96 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.42 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The company has a fifty day moving average price of $35.84 and a two-hundred day moving average price of $36.83. Range Resources Corporation has a one year low of $29.48 and a one year high of $43.50.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is currently 18.09%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays raised their price target on shares of Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Roth Capital lowered shares of Range Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. Morgan Stanley reduced their target price on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Zacks Research lowered shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings downgraded shares of Range Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average target price of $42.05.

Range Resources 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.