Range Resources Co. (NYSE:RRC – Get Rating) SVP Dori Ginn sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $29.49, for a total value of $1,179,600.00. Following the sale, the senior vice president now directly owns 282,738 shares of the company’s stock, valued at $8,337,943.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Range Resources Stock Performance
NYSE RRC opened at $29.62 on Tuesday. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 3.48, a PEG ratio of 0.46 and a beta of 2.13. Range Resources Co. has a twelve month low of $22.61 and a twelve month high of $37.44. The stock has a fifty day simple moving average of $25.90 and a 200 day simple moving average of $26.08. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.55.
Range Resources (NYSE:RRC – Get Rating) last issued its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.71 by $0.28. Range Resources had a return on equity of 45.55% and a net margin of 41.18%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $772.38 million. During the same period last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was up 556.4% compared to the same quarter last year. Sell-side analysts expect that Range Resources Co. will post 2.25 EPS for the current year.
Range Resources Dividend Announcement
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in RRC. Ronald Blue Trust Inc. lifted its stake in Range Resources by 75.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,187 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 511 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Range Resources in the fourth quarter worth about $40,000. Ameritas Advisory Services LLC purchased a new stake in Range Resources in the first quarter worth about $42,000. International Assets Investment Management LLC purchased a new stake in shares of Range Resources during the first quarter valued at approximately $53,000. Finally, Clear Street Markets LLC purchased a new stake in shares of Range Resources during the first quarter valued at approximately $53,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on RRC shares. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of Range Resources in a report on Wednesday, March 15th. Susquehanna cut their price objective on Range Resources from $34.00 to $33.00 and set a “positive” rating for the company in a research report on Friday, April 21st. UBS Group began coverage on Range Resources in a research report on Wednesday, April 19th. They issued a “sell” rating and a $24.00 price target for the company. Stephens initiated coverage on Range Resources in a research note on Monday, April 24th. They set an “overweight” rating and a $34.00 price objective on the stock. Finally, Benchmark raised Range Resources from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Range Resources has a consensus rating of “Hold” and an average price target of $32.71.
About Range Resources
Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.
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