KBC Group NV Purchases 1,531 Shares of Range Resources Corporation (NYSE:RRC)

KBC Group NV lifted its position in Range Resources Corporation (NYSE:RRC) by 15.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,190 shares of the oil and gas exploration company’s stock after acquiring an additional 1,531 shares during the period. KBC Group NV’s holdings in Range Resources were worth $447,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 315 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Range Resources in the 4th quarter worth approximately $42,000. Fifth Third Bancorp raised its position in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock worth $83,000 after acquiring an additional 355 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Range Resources by 124.9% in the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company’s stock worth $103,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Range Resources from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. UBS Group raised their price objective on Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Susquehanna reduced their price objective on Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $42.00 price objective on shares of Range Resources in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $41.95.

Range Resources Stock Performance

RRC stock opened at $38.53 on Friday. The company has a market cap of $9.21 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 0.30 and a beta of 0.63. Range Resources Corporation has a 1 year low of $27.29 and a 1 year high of $43.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $39.03 and its 200-day moving average price is $37.79.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.93%. Range Resources’s dividend payout ratio (DPR) is presently 32.14%.

Insider Activity at Range Resources

In related news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the transaction, the director directly owned 54,394 shares in the company, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the transaction, the director owned 13,663 shares in the company, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,080 shares of company stock valued at $2,984,479 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

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.