Range Resources Co. (NYSE:RRC) Director Reginal Spiller Sells 1,460 Shares

Range Resources Co. (NYSE:RRC) Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the transaction, the director now directly owns 15,253 shares in the company, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Range Resources Price Performance

NYSE:RRC opened at $37.54 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 19.06 and a beta of 1.85. The company has a 50 day moving average price of $35.37 and a 200-day moving average price of $32.56. Range Resources Co. has a 1-year low of $25.89 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last posted 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 firm had revenue of $718.20 million during 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 business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Equities research analysts forecast that Range Resources Co. will post 2 EPS for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RRC. Truist Financial cut their price objective on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada downgraded shares of Range Resources from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research report on Friday, April 26th. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, April 24th. Finally, Morgan Stanley lifted their price objective on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. 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 company presently has an average rating of “Hold” and a consensus target price of $36.81.

Institutional Investors Weigh In On Range Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glenorchy Capital Ltd purchased a new stake in Range Resources in the 4th quarter worth $1,799,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources in the 3rd quarter worth $27,000. Dimensional Fund Advisors LP increased its holdings in Range Resources by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock worth $180,568,000 after acquiring an additional 90,028 shares in the last quarter. Schroder Investment Management Group increased its holdings in Range Resources by 23.7% in the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after acquiring an additional 87,624 shares in the last quarter. Finally, Canoe Financial LP increased its holdings in Range Resources by 42.5% in the 4th quarter. Canoe Financial LP now owns 1,702,900 shares of the oil and gas exploration company’s stock worth $51,836,000 after acquiring an additional 507,500 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.