Insider Selling: Range Resources Co. (NYSE:RRC) SVP Sells 18,028 Shares of Stock

Range Resources Co. (NYSE:RRC) SVP Erin W. Mcdowell sold 18,028 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $36.91, for a total transaction of $665,413.48. Following the completion of the sale, the senior vice president now owns 40,175 shares of the company’s stock, valued at approximately $1,482,859.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Range Resources Price Performance

RRC stock opened at $37.22 on Thursday. 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 Co. has a 12 month low of $25.89 and a 12 month high of $39.33. The firm has a market cap of $9.03 billion, a P/E ratio of 18.89 and a beta of 1.85. The company’s 50-day moving average price is $35.47 and its two-hundred day moving average price is $32.59.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating 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 firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same period last year, the firm earned $0.96 EPS. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, analysts anticipate that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. Range Resources’s payout ratio is currently 16.24%.

Institutional Investors Weigh In On Range Resources

A number of hedge funds have recently made changes to their positions in the stock. SYSTM Wealth Solutions LLC boosted its stake in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares in the last quarter. Orser Capital Management LLC boosted its stake in shares of Range Resources by 0.8% in the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after purchasing an additional 427 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in shares of Range Resources by 4.3% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after purchasing an additional 431 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares in the last quarter. Finally, Lmcg Investments LLC boosted its stake in shares of Range Resources by 0.4% in the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Stifel Nicolaus increased their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada lowered shares of Range Resources from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $36.00 to $39.00 in a research report on Friday, April 26th. Stephens increased their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Finally, Mizuho increased their price objective on shares of Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.81.

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.