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

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

Range Resources Stock Up 0.7 %

RRC stock opened at $37.41 on Wednesday. The stock has a market cap of $9.08 billion, a P/E ratio of 18.99 and a beta of 1.85. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a twelve month low of $24.61 and a twelve month high of $38.25. The company’s 50 day moving average is $34.47 and its two-hundred day moving average is $32.46.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The firm 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%. Range Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. Research analysts expect that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. Range Resources’s dividend payout ratio is presently 16.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stephens lifted their price objective on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Truist Financial cut their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. 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. Piper Sandler upped their target price on shares of Range Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Barclays began coverage on shares of Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target for the company. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.62.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boston Partners grew its position in shares of Range Resources by 1,858.7% during the fourth 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. increased its stake in Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after purchasing an additional 693,970 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Range Resources in the third quarter valued at about $19,704,000. Lord Abbett & CO. LLC boosted its stake in shares of Range Resources by 66.6% during the third 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 buying an additional 585,000 shares during the period. Finally, Canoe Financial LP grew its holdings in shares of Range Resources by 86.5% during the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after buying an additional 554,400 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.