Range Resources Co. (NYSE:RRC) VP Sells 12,700 Shares

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Range Resources Stock Down 1.3 %

RRC stock opened at $31.10 on Wednesday. The company has a 50 day moving average price of $30.27 and a two-hundred day moving average price of $33.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $7.55 billion, a P/E ratio of 15.79 and a beta of 1.80. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Range Resources Co. will post 2.07 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. Range Resources’s dividend payout ratio is presently 16.24%.

Analyst Ratings Changes

A number of analysts recently commented on RRC shares. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Morgan Stanley reduced their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Wolfe Research assumed coverage on Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Jefferies Financial Group lifted their price target on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $36.10.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares during the last quarter. Perkins Coie Trust Co acquired a new position in Range Resources in the second quarter valued at $67,000. International Assets Investment Management LLC purchased a new stake in Range Resources during the second quarter valued at about $67,000. SYSTM Wealth Solutions LLC increased its stake in Range Resources by 17.9% during the first 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. Finally, nVerses Capital LLC purchased a new position in shares of Range Resources in the 2nd quarter worth about $107,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.