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

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

Range Resources Stock Performance

Shares of NYSE:RRC opened at $37.41 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $9.08 billion, a PE ratio of 18.99 and a beta of 1.85. The firm’s 50 day simple moving average is $34.47 and its 200-day simple moving average is $32.46. Range Resources Co. has a one year low of $24.61 and a one year high of $38.25.

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 analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the previous year, the company posted $0.96 EPS. Range Resources’s revenue was down 15.7% on a year-over-year basis. As a group, equities analysts predict that Range Resources Co. will post 2 EPS for the current year.

Range Resources Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RRC shares. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Jefferies Financial Group lifted their price objective on shares of Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Raymond James dropped their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Finally, Morgan Stanley upped their price objective on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $36.62.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in Range Resources by 90.2% during the third 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. lifted its stake in shares of 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 purchasing an additional 7,405 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Range Resources by 78.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company’s stock valued at $927,000 after purchasing an additional 12,617 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Range Resources by 17.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,076 shares of the oil and gas exploration company’s stock valued at $1,623,000 after purchasing an additional 7,509 shares during the last quarter. Finally, Strs Ohio raised its holdings in 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 worth $966,000 after purchasing an additional 3,457 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.