Range Resources (NYSE:RRC) Director Sells $140,000.00 in Stock

Range Resources Corporation (NYSE:RRC) Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director directly owned 13,421 shares in the company, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Range Resources Price Performance

Range Resources stock opened at $38.29 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The firm has a market cap of $8.95 billion, a PE ratio of 10.58 and a beta of 0.42. The company’s 50 day moving average is $37.89 and its two-hundred day moving average is $39.78.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s payout ratio is presently 11.05%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RRC. Morgan Stanley reduced their price target on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Zacks Research lowered shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research note on Monday, July 27th. Bank of America lifted their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.35.

Institutional Trading of Range Resources

A number of institutional investors have recently bought and sold shares of RRC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Range Resources during the 2nd quarter worth about $26,000. Los Angeles Capital Management LLC purchased a new stake in Range Resources during the fourth quarter worth approximately $34,000. Root Financial Partners LLC boosted its holdings in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares in the last quarter. Trust Co. of Vermont acquired a new position in Range Resources in the second quarter valued at approximately $45,000. Finally, Western Wealth Management LLC purchased a new position in Range Resources in the first quarter valued at approximately $59,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.