Hancock Whitney Corp Invests $232,000 in Range Resources Co. (NYSE:RRC)

Hancock Whitney Corp bought a new stake in Range Resources Co. (NYSE:RRC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,724 shares of the oil and gas exploration company’s stock, valued at approximately $232,000.

Several other hedge funds have also bought and sold shares of RRC. SYSTM Wealth Solutions LLC lifted its holdings in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after acquiring an additional 325 shares during the last quarter. Orser Capital Management LLC increased its position 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 purchasing an additional 427 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in shares of Range Resources by 4.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after buying an additional 431 shares in the last quarter. Lmcg Investments LLC lifted its position in Range Resources by 0.4% in the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after buying an additional 546 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock worth $888,000 after buying an additional 579 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Insider Transactions at Range Resources

In other news, CEO Dennis Degner sold 101,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $37.78, for a total value of $3,815,780.00. Following the transaction, the chief executive officer now owns 198,154 shares of the company’s stock, valued at $7,486,258.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Dennis Degner sold 101,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the completion of the transaction, the chief executive officer now owns 198,154 shares in the company, valued at $7,486,258.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Scucchi sold 49,569 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $36.91, for a total transaction of $1,829,591.79. Following the transaction, the chief financial officer now directly owns 94,713 shares of the company’s stock, valued at approximately $3,495,856.83. The disclosure for this sale can be found here. Insiders sold 181,129 shares of company stock worth $6,775,926 in the last three months. Corporate insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RRC. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a report on Thursday, July 25th. Stephens upped their target price on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley raised their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.30.

Range Resources Stock Performance

Shares of NYSE:RRC traded down $1.94 during midday trading on Friday, reaching $29.10. 914,224 shares of the company’s stock traded hands, compared to its average volume of 2,464,220. Range Resources Co. has a one year low of $27.60 and a one year high of $39.33. The stock has a 50 day moving average of $34.38 and a 200 day moving average of $33.59. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 15.76 and a beta of 1.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. As a group, equities research analysts anticipate that Range Resources Co. will post 2.09 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s payout ratio is 16.24%.

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.