Range Resources Co. (NYSE:RRC) Director Acquires $40,111.50 in Stock

Range Resources Co. (NYSE:RRC) Director Charles G. Griffie purchased 1,275 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Range Resources Trading Up 1.6 %

Shares of RRC stock opened at $31.49 on Thursday. The company’s 50-day moving average price is $30.26 and its 200-day moving average price is $32.91. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 15.98 and a beta of 1.80. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. The company had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.73%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. As a group, equities analysts predict that Range Resources Co. will post 1.89 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.02%. Range Resources’s payout ratio is 16.24%.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Norden Group LLC grew its holdings in shares of Range Resources by 1,599.9% during the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock worth $5,154,000 after purchasing an additional 140,891 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Range Resources by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after buying an additional 16,619 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 5,759,883 shares during the period. TCW Group Inc. lifted its holdings in shares of Range Resources by 186.5% in the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock worth $1,671,000 after acquiring an additional 32,433 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Range Resources by 2.1% in the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after acquiring an additional 133,565 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RRC. Morgan Stanley decreased their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company dropped their target price on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Mizuho cut their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Wolfe Research assumed coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

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.