Insider Selling: Range Resources Co. (NYSE:RRC) Director Sells 13,582 Shares of Stock

Range Resources Co. (NYSE:RRC) Director James M. Funk sold 13,582 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares in the company, valued at $1,905,421.82. This represents a 19.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Range Resources Stock Performance

RRC stock opened at $37.86 on Friday. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The business has a 50-day moving average price of $36.20 and a 200 day moving average price of $36.11. The company has a market capitalization of $9.05 billion, a P/E ratio of 19.12, a PEG ratio of 5.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, equities research analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s payout ratio is presently 32.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on RRC shares. Morgan Stanley set a $41.00 target price on shares of Range Resources in a report on Tuesday, April 15th. Citigroup downgraded Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Williams Trading set a $40.00 price objective on Range Resources in a research note on Wednesday, March 5th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Finally, StockNews.com raised shares of Range Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.50.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its holdings in shares of Range Resources by 23.2% in the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock valued at $4,095,000 after buying an additional 21,440 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Range Resources in the fourth quarter worth $380,000. Calamos Advisors LLC acquired a new position in shares of Range Resources during the fourth quarter worth $567,000. Radnor Capital Management LLC increased its position in shares of Range Resources by 156.2% during the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock worth $1,547,000 after purchasing an additional 26,213 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Range Resources by 169.1% in the 4th quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company’s stock worth $674,000 after purchasing an additional 11,276 shares in the last quarter. Institutional investors 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.