Key Points
- Range Resources director Reginal Spiller sold 3,500 shares at an average price of $40, generating $140,000. After the transaction, Spiller retained 13,421 shares, a 20.68% reduction in direct ownership.
- Range Resources reported quarterly EPS of $0.79, beating analyst estimates of $0.66, while revenue of $759.58 million also exceeded expectations. However, revenue declined 2.7% year over year.
- The stock carries a consensus “Hold” rating from analysts, with an average price target of $43.35 versus a recent price of $38.61. The company also pays a quarterly dividend of $0.10 per share, yielding about 1.0% annually.
Range Resources Corporation (NYSE:RRC - Get Free Report) Director Reginal Spiller sold 3,500 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director directly owned 13,421 shares of the company's stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Range Resources Trading Up 1.2%
NYSE:RRC opened at $38.61 on Friday. The business's 50-day moving average is $37.90 and its two-hundred day moving average is $39.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The firm has a market capitalization of $9.02 billion, a PE ratio of 10.67 and a beta of 0.42.
Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to analysts' expectations of $744.78 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The firm's quarterly revenue was down 2.7% on a year-over-year basis. Research analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.
Range Resources Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources's dividend payout ratio (DPR) is presently 11.05%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Boston Partners grew its position in shares of Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock worth $445,196,000 after buying an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock worth $91,852,000 after buying an additional 2,045,165 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Range Resources in the second quarter valued at $67,470,000. UBS Group AG raised its holdings in Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock valued at $126,532,000 after acquiring an additional 1,430,477 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Range Resources during the 1st quarter valued at $64,481,000. Institutional investors and hedge funds own 98.93% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Susquehanna decreased their price target on Range Resources from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Citigroup reissued a "neutral" rating on shares of Range Resources in a research report on Thursday, July 23rd. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research note on Monday, July 27th. Finally, Wells Fargo & Company lowered their price target on shares of Range Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $43.35.
Read Our Latest Research Report on RRC
About Range Resources
(
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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.
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