Range Resources Co. (NYSE:RRC) Director Buys $51,975.00 in Stock

Range Resources Co. (NYSE:RRC) Director Charles G. Griffie purchased 1,500 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $34.65 per share, with a total value of $51,975.00. Following the transaction, the director now owns 4,646 shares of the company’s stock, valued at approximately $160,983.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Range Resources Trading Down 1.2 %

NYSE:RRC opened at $36.97 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. Range Resources Co. has a one year low of $24.61 and a one year high of $38.25. The business’s 50-day simple moving average is $34.58 and its 200 day simple moving average is $32.49. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 18.77 and a beta of 1.85.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Range Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, sell-side analysts predict that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.87%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is currently 16.24%.

Analyst Ratings Changes

RRC has been the subject of a number of research reports. Stephens boosted their price target on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Mizuho reissued a “buy” rating and set a $41.00 price target (up previously from $39.00) on shares of Range Resources in a research report on Friday, April 26th. Raymond James lowered their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Stifel Nicolaus boosted their price target on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley boosted their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.62.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners raised its stake in Range Resources by 1,858.7% during the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after buying an additional 6,070,900 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Range Resources by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after buying an additional 90,028 shares in the last quarter. Invesco Ltd. raised its stake in Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after buying an additional 693,970 shares in the last quarter. Kopernik Global Investors LLC raised its position in shares of Range Resources by 2.7% during the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock worth $94,562,000 after purchasing an additional 82,095 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Range Resources by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock worth $54,208,000 after purchasing an additional 64,810 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.