Key Points
- Director Brenda Cline sold 7,000 shares on April 7 at an average price of $44.40 for a total of $310,800, cutting her position by 19.63% to 28,668 shares valued at roughly $1.27 million.
- Range Resources beat quarterly estimates with $0.82 EPS versus $0.69 expected and $786.89M revenue (up 30.9% YoY), and the company raised its quarterly dividend to $0.10 (annualized $0.40).
- The stock carries a consensus "Hold" rating with an average price target of $43.06, about 98.9% of shares are institutionally owned, and the company has a market cap near $10.11 billion with a 52-week range of $31.27–$48.31.
Range Resources Corporation (NYSE:RRC - Get Free Report) Director Brenda Cline sold 7,000 shares of the business's stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Range Resources Trading Down 0.9%
NYSE:RRC opened at $42.92 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a 50-day moving average of $41.10 and a 200-day moving average of $38.23. The company has a market cap of $10.11 billion, a PE ratio of 15.66, a PEG ratio of 0.34 and a beta of 0.51. Range Resources Corporation has a one year low of $31.27 and a one year high of $48.31.
Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.13. The firm had revenue of $786.89 million for the quarter, compared to analysts' expectations of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company's quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, equities research analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.
Range Resources Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. This is an increase from Range Resources's previous quarterly dividend of $0.09. Range Resources's dividend payout ratio is currently 14.60%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. McAlvany Wealth Management LLC bought a new stake in Range Resources during the 4th quarter valued at about $2,942,000. Rockefeller Capital Management L.P. grew its stake in shares of Range Resources by 9.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 89,315 shares of the oil and gas exploration company's stock worth $3,149,000 after acquiring an additional 7,541 shares during the period. Corient Private Wealth LLC grew its stake in shares of Range Resources by 36.6% in the fourth quarter. Corient Private Wealth LLC now owns 9,995 shares of the oil and gas exploration company's stock worth $353,000 after acquiring an additional 2,677 shares during the period. Hsbc Holdings PLC grew its stake in shares of Range Resources by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 427,713 shares of the oil and gas exploration company's stock worth $14,966,000 after acquiring an additional 79,533 shares during the period. Finally, Fearnley Asset Management AS bought a new stake in shares of Range Resources in the fourth quarter worth approximately $17,927,000. 98.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on RRC. Wells Fargo & Company increased their target price on shares of Range Resources from $43.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Mizuho increased their price target on shares of Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, December 12th. Weiss Ratings raised shares of Range Resources from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, February 27th. UBS Group increased their price target on shares of Range Resources from $38.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, December 12th. Finally, Citigroup raised their target price on shares of Range Resources from $43.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and an average price target of $43.06.
Get Our Latest Analysis on Range Resources
Range Resources Company Profile
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Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.
The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.
Further Reading
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