Investors Purchase Large Volume of Range Resources Call Options (NYSE:RRC)

Range Resources Corporation (NYSE:RRC) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 10,901 call options on the stock. This represents an increase of approximately 1,062% compared to the typical daily volume of 938 call options.

Analyst Upgrades and Downgrades

RRC has been the subject of several recent research reports. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research report on Monday, July 27th. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Barclays increased their price objective on Range Resources from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company dropped their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Finally, Stifel Nicolaus started coverage on Range Resources in a report on Thursday. They set a “hold” rating and a $46.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $43.88.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Range Resources

A number of hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its position in Range Resources by 89.0% during the second quarter. Sequoia Financial Advisors LLC now owns 10,811 shares of the oil and gas exploration company’s stock valued at $402,000 after buying an additional 5,092 shares during the period. Tidal Investments LLC raised its position in Range Resources by 62.8% in the second quarter. Tidal Investments LLC now owns 73,725 shares of the oil and gas exploration company’s stock worth $2,742,000 after acquiring an additional 28,438 shares during the period. SailingStone Capital Partners LLC boosted its stake in Range Resources by 53.2% in the second quarter. SailingStone Capital Partners LLC now owns 1,504,350 shares of the oil and gas exploration company’s stock valued at $55,947,000 after acquiring an additional 522,319 shares during the last quarter. Engineers Gate Manager LP boosted its stake in Range Resources by 1,413.1% in the second quarter. Engineers Gate Manager LP now owns 197,380 shares of the oil and gas exploration company’s stock valued at $7,341,000 after acquiring an additional 184,335 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Range Resources during the 2nd quarter valued at approximately $57,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Up 1.0%

NYSE:RRC traded up $0.41 on Thursday, hitting $42.15. The stock had a trading volume of 746,250 shares, compared to its average volume of 3,149,690. Range Resources has a 1 year low of $32.68 and a 1 year high of $48.31. The firm’s fifty day simple moving average is $39.41 and its two-hundred day simple moving average is $40.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $9.85 billion, a P/E ratio of 11.64 and a beta of 0.43.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Analysts predict that Range Resources will post 3.62 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 11th. Range Resources’s dividend payout ratio is 11.05%.

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.