Range Resources (NYSE:RRC) Director Reginal Spiller Sells 3,500 Shares

Range Resources Corporation (NYSE:RRC) Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was 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 in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Range Resources Price Performance

RRC stock opened at $38.61 on Friday. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The stock’s fifty day simple moving average is $37.90 and its 200-day simple moving average is $39.79. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 10.67 and a beta of 0.42.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.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 business earned $0.66 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts expect that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Dividend Announcement

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

Hedge Funds Weigh In On Range Resources

A number of large investors have recently modified their holdings of RRC. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Range Resources during the 2nd quarter worth about $26,000. Los Angeles Capital Management LLC purchased a new position in Range Resources in the fourth quarter valued at approximately $34,000. Root Financial Partners LLC lifted its position in Range Resources by 37.8% during 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 buying an additional 276 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in Range Resources during the fourth quarter valued at approximately $57,000. Finally, Western Wealth Management LLC purchased a new stake in Range Resources during the first quarter worth approximately $59,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RRC shares. Truist Financial decreased their target price on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. UBS Group dropped their price target on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Weiss Ratings downgraded shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Wells Fargo & Company decreased their price target on shares of 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, Stephens boosted their price objective on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.35.

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.