Charles G. Griffie Acquires 1,275 Shares of Range Resources Co. (NYSE:RRC) Stock

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

Range Resources Stock Performance

NYSE:RRC opened at $30.98 on Wednesday. The stock’s 50-day simple moving average is $30.24 and its 200 day simple moving average is $32.92. The firm has a market capitalization of $7.52 billion, a PE ratio of 15.73 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last released its quarterly earnings data 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 business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.73% and a net margin of 17.63%. Range Resources’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, analysts anticipate that Range Resources Co. will post 1.89 EPS for the current fiscal 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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Institutional Trading of Range Resources

Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of Range Resources during the third quarter valued at about $49,000. Fifth Third Bancorp boosted its stake in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Range Resources during the second quarter valued at about $67,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Range Resources during the second quarter valued at about $67,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRC has been the subject of several research reports. Wells Fargo & Company cut their price target on Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Jefferies Financial Group increased their price objective on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Finally, Bank of America initiated coverage on Range Resources in a research report on Monday. They set a “neutral” rating and a $34.00 price objective on the stock. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.