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 Range Resources stock in a transaction on 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 owns 9,670 shares of the company’s stock, valued at $304,121.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Range Resources Price Performance

Shares of RRC stock traded up $0.91 on Monday, reaching $31.52. 2,208,100 shares of the company were exchanged, compared to its average volume of 2,356,770. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80. The business has a 50-day moving average price of $30.40 and a 200 day moving average price of $33.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33.

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

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. Range Resources’s payout ratio is presently 16.24%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RRC shares. UBS Group decreased their target price on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, September 18th. The Goldman Sachs Group decreased their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Piper Sandler downgraded shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Finally, Jefferies Financial Group boosted their target price on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus target price of $36.10.

Hedge Funds Weigh In On Range Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KGH Ltd boosted its position in Range Resources by 3.2% during the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after acquiring an additional 190,000 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Range Resources during the 2nd quarter worth approximately $486,000. Creative Planning raised its position in shares of Range Resources by 5.3% during the 2nd quarter. Creative Planning now owns 55,655 shares of the oil and gas exploration company’s stock valued at $1,866,000 after buying an additional 2,792 shares during the period. Magnolia Capital Advisors LLC acquired a new position in Range Resources in the second quarter valued at approximately $508,000. Finally, Algert Global LLC purchased a new position in Range Resources in the second quarter worth approximately $818,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.