Ashley Kavanaugh Sells 12,700 Shares of Range Resources Co. (NYSE:RRC) Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Range Resources Stock Performance

Shares of RRC opened at $31.10 on Wednesday. The company’s 50 day simple moving average is $30.27 and its 200-day simple moving average is $33.47. The firm has a market cap of $7.55 billion, a PE ratio of 15.79 and a beta of 1.80. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. During the same period last year, the firm posted $0.27 EPS. Range Resources’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Range Resources Co. will post 2.07 EPS for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after buying an additional 5,759,883 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Range Resources in the second quarter valued at about $78,223,000. Vanguard Group Inc. increased its stake in shares of Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares during the period. Herr Investment Group LLC raised its holdings in Range Resources by 4,594.4% during the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock worth $17,133,000 after purchasing an additional 487,011 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in Range Resources by 177.7% in the fourth quarter. TD Asset Management Inc now owns 692,722 shares of the oil and gas exploration company’s stock valued at $21,086,000 after purchasing an additional 443,298 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RRC. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Piper Sandler lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $31.00 in a research note on Thursday, August 15th. Finally, Mizuho decreased their price target on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus target price of $36.10.

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.