Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh Sells 15,978 Shares of Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the sale, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Range Resources Price Performance

Shares of Range Resources stock opened at $37.69 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a twelve month low of $23.92 and a twelve month high of $38.25. The business has a 50-day moving average price of $33.67 and a 200 day moving average price of $32.40. The firm has a market cap of $9.14 billion, a PE ratio of 19.13 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its quarterly 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. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the business earned $0.96 EPS. Range Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts predict that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Range Resources’s dividend payout ratio is presently 16.24%.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently modified their holdings of RRC. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in Range Resources during the 1st quarter worth approximately $620,000. Louisiana State Employees Retirement System increased its stake in Range Resources by 2.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 69,400 shares of the oil and gas exploration company’s stock worth $2,389,000 after buying an additional 1,600 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in Range Resources during the 1st quarter worth approximately $414,000. Drive Wealth Management LLC increased its stake in Range Resources by 15.1% during the 1st quarter. Drive Wealth Management LLC now owns 8,109 shares of the oil and gas exploration company’s stock worth $279,000 after buying an additional 1,061 shares in the last quarter. Finally, Outlook Wealth Advisors LLC increased its stake in Range Resources by 28.8% during the 1st quarter. Outlook Wealth Advisors LLC now owns 9,181 shares of the oil and gas exploration company’s stock worth $316,000 after buying an additional 2,051 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RRC. Mizuho reiterated a “buy” rating and set a $39.00 price objective on shares of Range Resources in a report on Thursday, April 11th. Piper Sandler raised their target price on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. StockNews.com upgraded Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Morgan Stanley raised their target price on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Finally, Truist Financial reduced their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average target price of $36.40.

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.