Range Resources Co. (NYSE:RRC) SVP Erin W. Mcdowell Sells 9,568 Shares

Range Resources Co. (NYSE:RRC) SVP Erin W. Mcdowell sold 9,568 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the transaction, the senior vice president now owns 13,800 shares in the company, valued at $560,556. The trade was a 40.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Range Resources Price Performance

Range Resources stock opened at $40.25 on Friday. The business has a 50-day simple moving average of $36.51 and a 200 day simple moving average of $36.31. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 5.11 and a beta of 0.60. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the firm posted $0.63 earnings per share. On average, research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRC. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a research note on Friday, January 17th. Roth Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 target price on shares of Range Resources in a research note on Friday, April 11th. Raymond James raised their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. raised shares of Range Resources from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $43.00 to $45.00 in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.85.

Institutional Trading of Range Resources

A number of hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new position in Range Resources in the first quarter valued at $33,000. Smartleaf Asset Management LLC boosted its holdings in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Range Resources during the 1st quarter valued at about $39,000. Finally, UMB Bank n.a. lifted its position in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

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.