Range Resources (NYSE:RRC) Shares Climb 4.2% – What’s Next?

Shares of Range Resources Corporation (NYSE:RRC) were up 4.2% during trading on Friday. The stock traded as high as $43.11 and last traded at $43.15. 1,111,188 shares traded hands during trading, a decline of 64% from the average daily volume of 3,108,389 shares. The stock had previously closed at $41.42.

Analyst Upgrades and Downgrades

RRC has been the subject of several research analyst reports. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. BMO Capital Markets reissued a “market perform” rating on shares of Range Resources in a research note on Monday, October 5th. Citigroup reissued a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Barclays raised their price target on shares of Range Resources from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 8th. Finally, Raymond James Financial set a $45.00 price target on shares of Range Resources in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.00.

Range Resources Trading Up 4.2%

The business has a 50 day moving average of $40.39 and a two-hundred day moving average of $40.03. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 11.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

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. The firm had revenue of $759.58 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. Equities analysts predict that Range Resources Corporation will post 3.78 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.40 annualized dividend and a yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is presently 11.05%.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC bought a new stake in Range Resources during the 3rd quarter worth approximately $14,880,000. GK Wealth Management LLC purchased a new stake in shares of Range Resources in the 3rd quarter valued at about $75,000. Wedmont Private Capital purchased a new stake in shares of Range Resources in the 3rd quarter valued at about $254,000. GAMMA Investing LLC boosted its position in shares of Range Resources by 19.8% during the 3rd quarter. GAMMA Investing LLC now owns 9,952 shares of the oil and gas exploration company’s stock valued at $369,000 after acquiring an additional 1,643 shares during the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of Range Resources by 3.5% during the 3rd quarter. Congress Asset Management Co. now owns 652,173 shares of the oil and gas exploration company’s stock valued at $24,156,000 after acquiring an additional 21,895 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil producer headquartered in Fort Worth, Texas. The company explores for, develops and produces hydrocarbons, with a primary focus on unconventional shale resources in the Appalachian Basin.

Range’s principal operating area is the Marcellus Shale in southwestern Pennsylvania, where it produces natural gas, NGLs and condensate. Its products are sold to customers through regional and interstate pipeline systems and other market channels serving utilities, industrial users, power generators and other energy markets.

Founded in 1976, Range Resources has historically operated in several U.S.