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 business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director owned 13,421 shares of the company’s stock, valued at $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Range Resources Stock Down 0.7%

Range Resources stock opened at $38.29 on Friday. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 10.58 and a beta of 0.42. The firm’s fifty day moving average price is $37.89 and its two-hundred day moving average price is $39.78. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s 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, equities research analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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

Hedge Funds Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Range Resources in the second quarter valued at about $26,000. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources during the 4th quarter worth approximately $34,000. Root Financial Partners LLC raised its holdings in shares of 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 purchasing an additional 276 shares during the period. Trust Co. of Vermont bought a new stake in shares of Range Resources in the 2nd quarter worth approximately $45,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources in the fourth quarter valued at approximately $57,000. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Susquehanna decreased their price target on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Wells Fargo & Company cut their price objective on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. UBS Group dropped their price target on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Morgan Stanley reduced their price objective on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, June 29th. Finally, Truist Financial decreased their price objective on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target 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.