Range Resources Corp. (NYSE:RRC) Director Christopher A. Helms purchased 4,000 shares of the business’s stock in a transaction on Friday, March 17th. The shares were bought at an average cost of $27.46 per share, with a total value of $109,840.00. Following the acquisition, the director now directly owns 15,931 shares of the company’s stock, valued at approximately $437,465.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Range Resources Corp. (NYSE:RRC) traded up 0.76% during midday trading on Monday, reaching $27.72. The company’s stock had a trading volume of 4,970,925 shares. The firm’s market cap is $6.76 billion. Range Resources Corp. has a one year low of $26.70 and a one year high of $46.96. The stock’s 50 day moving average price is $30.29 and its 200 day moving average price is $34.75.
Range Resources Corp. (NYSE:RRC) last posted its earnings results on Wednesday, February 22nd. The oil and gas exploration company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.13. Range Resources Corp. had a negative return on equity of 13.00% and a negative net margin of 54.13%. The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $525.26 million. During the same period last year, the firm earned $0.25 EPS. The company’s quarterly revenue was down 44.3% on a year-over-year basis. Analysts predict that Range Resources Corp. will post $0.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Monday, March 13th. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.97%.
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Several large investors have recently bought and sold shares of RRC. SailingStone Capital Partners LLC boosted its stake in Range Resources Corp. by 1.1% in the fourth quarter. SailingStone Capital Partners LLC now owns 17,721,875 shares of the oil and gas exploration company’s stock worth $608,924,000 after buying an additional 191,673 shares during the period. State Street Corp boosted its stake in Range Resources Corp. by 7.8% in the fourth quarter. State Street Corp now owns 11,767,082 shares of the oil and gas exploration company’s stock worth $404,320,000 after buying an additional 848,846 shares during the period. FMR LLC boosted its stake in Range Resources Corp. by 28.9% in the fourth quarter. FMR LLC now owns 6,421,931 shares of the oil and gas exploration company’s stock worth $220,658,000 after buying an additional 1,438,834 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Range Resources Corp. by 13.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,002,457 shares of the oil and gas exploration company’s stock worth $193,845,000 after buying an additional 592,146 shares during the period. Finally, Stelliam Investment Management LP boosted its stake in Range Resources Corp. by 49.6% in the fourth quarter. Stelliam Investment Management LP now owns 4,695,000 shares of the oil and gas exploration company’s stock worth $161,320,000 after buying an additional 1,557,500 shares during the period. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Several research firms have issued reports on RRC. Scotiabank raised Range Resources Corp. to a “buy” rating and set a $49.00 price target for the company in a report on Thursday, December 15th. Howard Weil raised Range Resources Corp. from a “sector perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, December 15th. R. F. Lafferty began coverage on Range Resources Corp. in a report on Wednesday, January 25th. They set a “buy” rating and a $58.00 price target for the company. Barclays PLC cut their price target on Range Resources Corp. from $28.00 to $27.00 and set an “underweight” rating for the company in a report on Thursday, January 26th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $44.00 price target on shares of Range Resources Corp. in a report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. Range Resources Corp. presently has a consensus rating of “Buy” and an average price target of $46.84.
About Range Resources Corp.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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