Insider Selling: Range Resources Co. (NYSE:RRC) VP Sells 15,978 Shares of Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Range Resources Trading Down 0.9 %

RRC opened at $37.31 on Friday. Range Resources Co. has a twelve month low of $23.92 and a twelve month high of $38.25. The company has a 50-day simple moving average of $33.80 and a 200 day simple moving average of $32.41. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83.

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

Range Resources Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RRC shares. Barclays initiated coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price for the company. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, March 13th. Stifel Nicolaus raised their price target on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Mizuho reaffirmed a “buy” rating and set a $41.00 price target (up previously from $39.00) on shares of Range Resources in a report on Friday. Finally, Susquehanna raised their price target on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Five analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.65.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners lifted its position in Range Resources by 1,858.7% during the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after purchasing an additional 6,070,900 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 worth $180,568,000 after acquiring an additional 90,028 shares in the last quarter. Invesco Ltd. raised its stake in Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after acquiring an additional 693,970 shares in the last quarter. Kopernik Global Investors LLC raised its stake in Range Resources by 2.7% during the fourth quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock worth $94,562,000 after acquiring an additional 82,095 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Range Resources by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock worth $54,208,000 after acquiring an additional 64,810 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

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.