Ashley Kavanaugh Sells 15,978 Shares of Range Resources Co. (NYSE:RRC) Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Range Resources Trading Down 0.9 %

Shares of Range Resources stock opened at $37.32 on Friday. The stock has a fifty day moving average price of $33.80 and a 200-day moving average price of $32.42. Range Resources Co. has a 1 year low of $23.92 and a 1 year high of $38.25. The firm has a market cap of $9.05 billion, a PE ratio of 18.94 and a beta of 1.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.49.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share 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 company had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter last year, the firm posted $0.96 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. Equities research analysts anticipate that Range Resources Co. will post 2 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed 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 was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in RRC. Boston Partners increased its holdings in Range Resources by 1,858.7% in the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after acquiring an additional 6,070,900 shares during the last quarter. Invesco Ltd. boosted its stake in Range Resources by 22.4% in the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after purchasing an additional 693,970 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Range Resources in the 3rd quarter worth about $19,704,000. Lord Abbett & CO. LLC boosted its stake in Range Resources by 66.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock worth $47,416,000 after purchasing an additional 585,000 shares during the period. Finally, Canoe Financial LP boosted its stake in Range Resources by 86.5% in the 3rd quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after purchasing an additional 554,400 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RRC shares. Raymond James cut their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. Benchmark restated a “hold” rating on shares of Range Resources in a research note on Wednesday. Susquehanna raised their price objective on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada cut Range Resources from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $36.00 to $39.00 in a research note on Friday. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.65.

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.