Insider Selling: Range Resources Co. (NYSE:RRC) VP Sells $502,320.00 in Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 12,880 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the sale, the vice president now directly owns 1,723 shares of the company’s stock, valued at $67,197. The trade was a 88.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Range Resources Price Performance

Range Resources stock opened at $40.11 on Friday. The company’s 50 day simple moving average is $36.56 and its 200-day simple moving average is $36.38. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the firm earned $0.63 EPS. As a group, equities research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current 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 paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. This is an increase 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 32.14%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 price objective on shares of Range Resources in a research note on Friday, April 11th. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. UBS Group lifted their price objective on Range Resources from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Williams Trading set a $40.00 target price on Range Resources in a report on Wednesday, March 5th. Finally, Citigroup downgraded Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.85.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently made changes to their positions in RRC. Barclays PLC raised its stake in shares of Range Resources by 180.8% in the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock valued at $6,830,000 after acquiring an additional 142,938 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Range Resources in the fourth quarter valued at approximately $4,792,000. Radnor Capital Management LLC grew its holdings in shares of Range Resources by 156.2% in the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after purchasing an additional 26,213 shares in the last quarter. Canoe Financial LP grew its holdings in shares of Range Resources by 9.4% in the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after purchasing an additional 251,200 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in shares of Range Resources by 30.1% in the fourth quarter. Diversify Wealth Management LLC now owns 14,997 shares of the oil and gas exploration company’s stock valued at $572,000 after purchasing an additional 3,466 shares in the last quarter. 98.93% of the stock is 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.