Insider Selling: Range Resources Co. (NYSE:RRC) SVP Sells $665,413.48 in Stock

Range Resources Co. (NYSE:RRC) SVP Erin W. Mcdowell sold 18,028 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $36.91, for a total transaction of $665,413.48. Following the transaction, the senior vice president now directly owns 40,175 shares of the company’s stock, valued at $1,482,859.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Range Resources Stock Down 0.9 %

Shares of NYSE RRC opened at $37.22 on Thursday. Range Resources Co. has a 1 year low of $25.89 and a 1 year high of $39.33. The firm’s 50 day moving average price is $35.47 and its 200 day moving average price is $32.59. The firm has a market cap of $9.03 billion, a P/E ratio of 18.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35.

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

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given 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 (DPR) is currently 16.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRC. Royal Bank of Canada cut shares of Range Resources from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $36.00 to $39.00 in a report on Friday, April 26th. Piper Sandler increased their target price on shares of Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Morgan Stanley increased their target price on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Susquehanna increased their target price on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Finally, Mizuho increased their target price on shares of Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, May 13th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.81.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently made changes to their positions in the stock. SYSTM Wealth Solutions LLC raised its stake in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares during the period. Orser Capital Management LLC boosted its holdings in shares of Range Resources by 0.8% in the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares during the period. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Range Resources by 4.3% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after buying an additional 431 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after buying an additional 490 shares during the period. Finally, Lmcg Investments LLC boosted its stake in Range Resources by 0.4% during the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares during the period. Institutional investors and hedge funds 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.