Insider Selling: Range Resources Co. (NYSE:RRC) VP Sells 12,700 Shares of Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Range Resources Stock Up 3.0 %

RRC stock traded up $0.91 during trading on Monday, hitting $31.52. 2,208,100 shares of the company’s stock traded hands, compared to its average volume of 2,356,770. The firm has a market capitalization of $7.65 billion, a P/E ratio of 15.54 and a beta of 1.80. The business has a fifty day simple moving average of $30.40 and a two-hundred day simple moving average of $33.50. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. Range Resources’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Sell-side analysts anticipate that Range Resources Co. will post 2.07 EPS for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.02%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Institutional Investors Weigh In On Range Resources

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Range Resources by 25.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after acquiring an additional 5,759,883 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after buying an additional 959,011 shares during the period. Boston Partners lifted its stake in shares of Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after buying an additional 133,565 shares during the period. Lingotto Investment Management LLP lifted its stake in shares of Range Resources by 1.5% during the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after buying an additional 93,782 shares during the period. Finally, KGH Ltd lifted its stake in shares of Range Resources by 3.2% during the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after buying an additional 190,000 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RRC shares. Wells Fargo & Company lowered their price target on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research report on Thursday, July 25th. Piper Sandler lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $43.00 to $31.00 in a research report on Thursday, August 15th. The Goldman Sachs Group reduced their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Mizuho reduced their price objective on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $36.10.

About Range Resources

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.