Penbrook Management LLC Has $544,000 Stock Position in Range Resources Co. (NYSE:RRC)

Penbrook Management LLC lowered its position in shares of Range Resources Co. (NYSE:RRC) by 17.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,790 shares of the oil and gas exploration company’s stock after selling 3,410 shares during the quarter. Penbrook Management LLC’s holdings in Range Resources were worth $544,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Range Resources by 191.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock valued at $485,000 after buying an additional 9,243 shares during the period. Miller Howard Investments Inc. NY lifted its position in Range Resources by 137.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 100,907 shares of the oil and gas exploration company’s stock worth $3,474,000 after buying an additional 58,406 shares in the last quarter. Anderson Hoagland & Co. boosted its stake in shares of Range Resources by 4.7% during the 1st quarter. Anderson Hoagland & Co. now owns 69,812 shares of the oil and gas exploration company’s stock valued at $2,536,000 after buying an additional 3,162 shares during the period. Orser Capital Management LLC grew its holdings in shares of Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after acquiring an additional 427 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its stake in shares of Range Resources by 26.0% in the first quarter. Congress Asset Management Co. MA now owns 492,504 shares of the oil and gas exploration company’s stock worth $16,957,000 after acquiring an additional 101,739 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction of $56,472.80. Following the transaction, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Range Resources news, Director Greg G. Maxwell sold 11,072 shares of Range Resources stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $36.91, for a total value of $408,667.52. Following the transaction, the director now owns 21,446 shares of the company’s stock, valued at $791,571.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reginal Spiller sold 1,460 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the transaction, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The disclosure for this sale can be found here. Insiders sold a total of 197,107 shares of company stock valued at $7,379,095 over the last three months. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RRC. Citigroup upped their target price on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada downgraded shares of Range Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $36.00 to $39.00 in a research report on Friday, April 26th. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Finally, Susquehanna upped their price target on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.10.

Range Resources Price Performance

Shares of RRC stock traded up $0.73 during trading hours on Tuesday, reaching $34.15. 1,751,939 shares of the company were exchanged, compared to its average volume of 2,524,746. Range Resources Co. has a fifty-two week low of $27.60 and a fifty-two week high of $39.33. 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 fifty day moving average is $36.04 and its two-hundred day moving average is $33.21. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 16.96 and a beta of 1.88.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. Sell-side analysts forecast that Range Resources Co. will post 2.12 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Range Resources’s dividend payout ratio is currently 16.24%.

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.