Range Resources Co. (NYSE:RRC) CEO Dennis Degner Sells 101,000 Shares

Range Resources Co. (NYSE:RRC) CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the completion of the sale, the chief executive officer now owns 198,154 shares in the company, valued at approximately $7,486,258.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Range Resources Stock Performance

RRC stock opened at $37.22 on Thursday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 18.89 and a beta of 1.85. The firm has a 50-day simple moving average of $35.47 and a two-hundred day simple moving average of $32.59. Range Resources Co. has a one year low of $25.89 and a one year high of $39.33. 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 (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, equities analysts forecast that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is 16.24%.

Institutional Trading of Range Resources

Several hedge funds have recently modified their holdings of the company. Glenorchy Capital Ltd acquired a new position in shares of Range Resources during the fourth quarter valued at about $1,799,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources during the third quarter valued at about $27,000. Dimensional Fund Advisors LP increased its holdings in shares of 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 acquiring an additional 90,028 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Range Resources by 23.7% during the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after acquiring an additional 87,624 shares in the last quarter. Finally, Canoe Financial LP increased its holdings in shares of Range Resources by 42.5% during the fourth quarter. Canoe Financial LP now owns 1,702,900 shares of the oil and gas exploration company’s stock valued at $51,836,000 after acquiring an additional 507,500 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler boosted their price objective on shares of Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada lowered shares of Range Resources from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Friday, April 26th. Susquehanna boosted their target price on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Mizuho boosted their target price on shares of Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Truist Financial lowered their target price on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average price target of $36.81.

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.