Range Resources Co. (NYSE:RRC) Director Sells $56,472.80 in Stock

Range Resources Co. (NYSE:RRC) Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now owns 15,253 shares in the company, valued at $589,986.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Range Resources Stock Performance

NYSE RRC opened at $35.94 on Friday. Range Resources Co. has a fifty-two week low of $25.89 and a fifty-two week high of $39.33. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 18.24 and a beta of 1.85. The business has a fifty day moving average of $35.54 and a 200-day moving average of $32.62. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts predict that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.89%. Range Resources’s payout ratio is currently 16.24%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RRC. Mizuho lifted their target price on Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Truist Financial lowered their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Piper Sandler lifted their target price on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Barclays began coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target on the stock. Finally, Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $36.81.

Hedge Funds Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new stake in Range Resources during the third quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Range Resources during the third quarter worth about $27,000. Benjamin F. Edwards & Company Inc. increased its stake in Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the last quarter. Larson Financial Group LLC increased its stake in Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 900 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 490 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.