Range Resources Co. (NYSE:RRC) Director Sells $56,472.80 in Stock

Range Resources Co. (NYSE:RRC) 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 value of $56,472.80. Following the sale, the director now directly owns 15,253 shares in the company, valued at $589,986.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Range Resources Trading Down 3.4 %

Shares of NYSE:RRC opened at $35.94 on Friday. The company’s 50-day moving average price is $35.54 and its two-hundred day moving average price is $32.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. Range Resources Co. has a one year low of $25.89 and a one year high of $39.33. The stock has a market capitalization of $8.72 billion, a PE ratio of 18.24 and a beta of 1.85.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. Range Resources’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. On average, equities analysts forecast that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently made changes to their positions in the stock. Raleigh Capital Management Inc. bought a new stake in shares of Range Resources in the third quarter valued at approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources during the third quarter worth $27,000. Benjamin F. Edwards & Company Inc. lifted its stake in Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 666 shares during the last quarter. Larson Financial Group LLC lifted its stake in Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 490 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on RRC. Stephens lifted their price objective on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Piper Sandler lifted their target price on shares of Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Jefferies Financial Group boosted their price objective on shares of Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Wednesday, April 24th. Finally, Mizuho boosted their price objective on shares of Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.81.

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.