Reginal Spiller Sells 3,500 Shares of Range Resources (NYSE:RRC) Stock

Range Resources Corporation (NYSE:RRC) Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Range Resources Stock Up 1.2%

Shares of RRC stock traded up $0.47 during trading hours on Thursday, hitting $38.61. 2,278,191 shares of the company’s stock traded hands, compared to its average volume of 3,322,347. The stock’s fifty day simple moving average is $37.91 and its two-hundred day simple moving average is $39.76. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 10.67 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. On average, analysts expect that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s payout ratio is 11.05%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources during the fourth quarter valued at $34,000. Root Financial Partners LLC raised its position in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 276 shares during the last quarter. Western Wealth Management LLC bought a new position in Range Resources during the 1st quarter valued at about $59,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Range Resources during the 4th quarter valued at about $57,000. Finally, Basepoint Wealth LLC purchased a new stake in shares of Range Resources during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

RRC has been the subject of several analyst reports. Citigroup restated a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. Morgan Stanley cut their price objective on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Susquehanna reduced their price objective on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Wells Fargo & Company decreased their target price on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.35.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.