Range Resources Co. (NYSE:RRC) CFO Mark Scucchi Sells 49,569 Shares

Range Resources Co. (NYSE:RRC) CFO Mark Scucchi sold 49,569 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $36.91, for a total transaction of $1,829,591.79. Following the completion of the transaction, the chief financial officer now directly owns 94,713 shares in the company, valued at $3,495,856.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Range Resources Price Performance

Shares of NYSE:RRC opened at $37.22 on Thursday. The firm has a 50 day simple moving average of $35.47 and a 200 day simple moving average of $32.59. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 18.89 and a beta of 1.85. Range Resources Co. has a one year low of $25.89 and a one year high of $39.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35.

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

Range Resources Dividend Announcement

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

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently added to or reduced their stakes in the business. Glenorchy Capital Ltd bought a new position in shares of Range Resources during the fourth quarter valued at $1,799,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources in the 3rd quarter valued at about $27,000. Dimensional Fund Advisors LP increased its stake in shares of Range Resources by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after buying an additional 90,028 shares during the period. Schroder Investment Management Group raised its position in shares of Range Resources by 23.7% during the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after acquiring an additional 87,624 shares during the last quarter. Finally, Canoe Financial LP lifted its stake in shares of Range Resources by 42.5% in the fourth quarter. Canoe Financial LP now owns 1,702,900 shares of the oil and gas exploration company’s stock worth $51,836,000 after acquiring an additional 507,500 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RRC. Susquehanna lifted their target price on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Stifel Nicolaus increased their target price on shares of Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Citigroup raised their target price on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Piper Sandler boosted their price target on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group raised their price objective on Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, 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.