Traders Purchase Large Volume of Range Resources Call Options (NYSE:RRC)

Range Resources Co. (NYSE:RRCGet Rating) was the target of unusually large options trading on Tuesday. Stock traders bought 4,488 call options on the stock. This represents an increase of 7% compared to the average daily volume of 4,179 call options.

Insider Transactions at Range Resources

In other news, SVP Dori Ginn sold 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.65, for a total transaction of $173,250.00. Following the completion of the transaction, the senior vice president now directly owns 80,801 shares in the company, valued at $2,799,754.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Range Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its position in shares of Range Resources by 64.9% during the second quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 470 shares in the last quarter. Quent Capital LLC acquired a new position in Range Resources in the 1st quarter valued at about $37,000. Exchange Traded Concepts LLC increased its position in Range Resources by 34.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock valued at $49,000 after acquiring an additional 509 shares during the period. Tobam acquired a new position in Range Resources in the 3rd quarter valued at about $53,000. Finally, IFP Advisors Inc increased its position in Range Resources by 43.4% in the 3rd quarter. IFP Advisors Inc now owns 3,444 shares of the oil and gas exploration company’s stock valued at $69,000 after acquiring an additional 1,042 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Susquehanna upgraded Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 price target for the company in a research report on Wednesday, October 26th. The Goldman Sachs Group lifted their target price on Range Resources from $31.00 to $35.00 and gave the company a “sell” rating in a report on Monday, August 22nd. Morgan Stanley decreased their target price on Range Resources from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Wednesday, October 19th. TheStreet upgraded Range Resources from a “c” rating to a “b-” rating in a report on Tuesday, July 26th. Finally, StockNews.com initiated coverage on Range Resources in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.88.

Range Resources Stock Up 7.1 %

Shares of NYSE RRC opened at $30.22 on Wednesday. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 0.20 and a beta of 2.12. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.41 and a quick ratio of 0.41. The business has a 50-day moving average of $27.84 and a two-hundred day moving average of $29.60. Range Resources has a 1 year low of $16.71 and a 1 year high of $37.44.

Range Resources (NYSE:RRCGet Rating) last posted its earnings results on Tuesday, October 25th. The oil and gas exploration company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Range Resources had a return on equity of 60.30% and a net margin of 30.87%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 267.0% on a year-over-year basis. On average, analysts forecast that Range Resources will post 4.99 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Range Resources’s previous quarterly dividend of $0.02. Range Resources’s payout ratio is 6.57%.

About Range Resources

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Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

Further Reading

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