Range Resources Co. (NYSE:RRC - Get Free Report) VP Ashley Kavanaugh sold 15,978 shares of the company's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink.
Range Resources Stock Performance
RRC opened at $37.69 on Friday. The stock has a market cap of $9.14 billion, a P/E ratio of 19.13 and a beta of 1.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.49. The stock's 50 day simple moving average is $33.67 and its 200 day simple moving average is $32.40. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $38.25.
Range Resources (NYSE:RRC - Get Free Report) last announced its 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 firm had revenue of $718.20 million for 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 quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, equities analysts anticipate that Range Resources Co. will post 2 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources's dividend payout ratio (DPR) is presently 16.24%.
Institutional Investors Weigh In On Range Resources
A number of large investors have recently bought and sold shares of the stock. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Range Resources during the 1st quarter valued at $620,000. Louisiana State Employees Retirement System grew its holdings in Range Resources by 2.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 69,400 shares of the oil and gas exploration company's stock valued at $2,389,000 after buying an additional 1,600 shares during the last quarter. Confluence Wealth Services Inc. purchased a new position in shares of Range Resources during the 1st quarter worth $414,000. Drive Wealth Management LLC lifted its stake in shares of Range Resources by 15.1% during the 1st quarter. Drive Wealth Management LLC now owns 8,109 shares of the oil and gas exploration company's stock worth $279,000 after purchasing an additional 1,061 shares during the period. Finally, Outlook Wealth Advisors LLC lifted its stake in shares of Range Resources by 28.8% during the 1st quarter. Outlook Wealth Advisors LLC now owns 9,181 shares of the oil and gas exploration company's stock worth $316,000 after purchasing an additional 2,051 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.
Analyst Upgrades and Downgrades
RRC has been the subject of several analyst reports. Citigroup upped their price objective on Range Resources from $33.00 to $37.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. Barclays started coverage on Range Resources in a research report on Wednesday, April 10th. They set an "underweight" rating and a $35.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 target price on shares of Range Resources in a research report on Tuesday, April 9th. Stephens boosted their target price on Range Resources from $41.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Piper Sandler boosted their target price on Range Resources from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and an average price target of $36.40.
View Our Latest Report on RRC
Range Resources Company Profile
(
Get Free Report)
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.
Further Reading
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