Range Resources Co. (NYSE:RRC - Get Free Report) Director Charles G. Griffie bought 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at $160,983.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Range Resources Stock Performance
Shares of Range Resources stock opened at $37.15 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. The business's 50 day moving average price is $34.23 and its 200 day moving average price is $32.42. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 18.86 and a beta of 1.85. Range Resources Co. has a one year low of $24.61 and a one year high of $38.25.
Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The company's quarterly revenue was down 15.7% compared to the same quarter last year. On average, research analysts predict that Range Resources Co. will post 2 EPS for the current year.
Range Resources Dividend Announcement
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The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources's dividend payout ratio (DPR) is presently 16.24%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Range Resources by 90.2% during the 3rd quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company's stock worth $257,000 after buying an additional 3,766 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Range Resources by 46.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 23,440 shares of the oil and gas exploration company's stock valued at $760,000 after purchasing an additional 7,405 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Range Resources by 78.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company's stock worth $927,000 after buying an additional 12,617 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Range Resources by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,076 shares of the oil and gas exploration company's stock valued at $1,623,000 after buying an additional 7,509 shares during the last quarter. Finally, Strs Ohio grew its position in shares of Range Resources by 13.1% during the third quarter. Strs Ohio now owns 29,807 shares of the oil and gas exploration company's stock worth $966,000 after acquiring an additional 3,457 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on RRC. Barclays started coverage on Range Resources in a report on Wednesday, April 10th. They issued an "underweight" rating and a $35.00 price target for the company. Raymond James dropped their price target on shares of Range Resources from $37.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 24th. Benchmark reiterated a "hold" rating on shares of Range Resources in a research report on Wednesday, April 24th. Susquehanna raised their target price on Range Resources from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Monday, April 22nd. Finally, Stifel Nicolaus upped their price target on Range Resources from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $36.62.
View Our Latest Research Report on RRC
About Range Resources
(
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.
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