Charles G. Griffie Buys 1,500 Shares of Range Resources Co. (NYSE:RRC) Stock

Range Resources Co. (NYSE:RRC) Director Charles G. Griffie bought 1,500 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now directly owns 4,646 shares of the company’s stock, valued at $160,983.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Range Resources Stock Performance

Range Resources stock traded up $1.43 during trading hours on Monday, hitting $37.14. The stock had a trading volume of 1,139,741 shares, compared to its average volume of 2,542,583. The company has a market cap of $9.01 billion, a PE ratio of 18.13 and a beta of 1.85. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a fifty-two week low of $24.61 and a fifty-two week high of $38.25. The company has a 50-day moving average of $34.23 and a two-hundred day moving average of $32.42.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. On average, equities research analysts anticipate that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid 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 is 16.24%.

Analysts Set New Price Targets

RRC has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Morgan Stanley increased their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Royal Bank of Canada downgraded Range Resources from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $36.00 to $39.00 in a research note on Friday, April 26th. Finally, Piper Sandler raised their target price on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.62.

Hedge Funds Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. SG Americas Securities LLC grew its position in shares of Range Resources by 90.2% during the 3rd quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock worth $257,000 after buying an additional 3,766 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Range Resources by 46.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 23,440 shares of the oil and gas exploration company’s stock worth $760,000 after buying an additional 7,405 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Range Resources by 78.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company’s stock worth $927,000 after acquiring an additional 12,617 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Range Resources by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,076 shares of the oil and gas exploration company’s stock worth $1,623,000 after acquiring an additional 7,509 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Range Resources by 13.1% in the third quarter. Strs Ohio now owns 29,807 shares of the oil and gas exploration company’s stock valued at $966,000 after purchasing an additional 3,457 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Company Profile

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.